Broker Arthur J Gallagher & Co has set aside $35m (£18.2m) to resolve investigations into...
Broker Arthur J Gallagher & Co has set aside $35m (£18.2m) to resolve investigations into its business practices, the company said this week.
In its first quarter results, the broker confirmed it was subject to widespread regulatory and legal claims over contingent commissions and “various other historical business practices.”
The $35m charge represents the broker's "best estimate" of costs, based on industry settlements with Marsh, Aon and Willis.
The company declared a first quarter loss of $74m (£38.5m), compared to a $38.9m (£20.3m) profit in the first quarter of 2004. The company was subject to several million pound litigation costs this quarter.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
