Is AJG halal?
Arthur J. Gallagher & Co.
Not halal
Arthur J. Gallagher & Co. did not pass AAOIFI screening. The failed check is shown below.
Checked: 15 October 2026
Exchange
NYSE
Price
254.92
Day
+1.93%
Market cap
$64.29B
Industry
Insurance Brokers
Sector
Financial Services
What the company does
Arthur J. Gallagher is one of the world's largest insurance brokers: it arranges policies for businesses and earns commissions from insurers. Its second line is claims management (Gallagher Bassett).
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Prohibited activity: Insurance Brokers
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $13.61B ÷ 36-month average market cap $65.00B = 20.9%
20.9%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $1.39B ÷ 36-month average market cap $65.00B = 2.1%
2.1%
Pass
Non-compliant income / total revenue
limit 5%
—
No data
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict. Today's market cap: $64.29B.
For information (AAOIFI 3/1 note): cash + receivables are 9.1% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- 0.10% weight · #185 of 503
- Held by funds
- Not held by any tracked fund
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 5 superinvestors · Average reported price: $229.57
- Glenn GreenbergBrave Warrior Advisors$295.0M6.4%
- First Pacific Advisors$306.8M3.9%
- Dodge & Cox Funds$2.1B1.1%
- Mairs & Power Funds$71.5M0.7%
- John RogersAriel Investments$4.3M0.0%
Exited this quarter: Viking Global Investors
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- Halal investingBlogWhy a company's cash affects whether its stock is halalLots of cash sounds like a good sign — but halal screening checks it separately. What counts, what doesn't, and where we are stricter than AAOIFI.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.