v3.26.3
Business Combinations (Tables)
 9 Months Ended
Sep. 30, 2026
Business Combination [Abstract]  
Acquisition Method for Recording Business Combinations These acquisitions have been accounted for using the acquisition method for recording business combinations (in millions, except share data):
Name and Effective
Date of Acquisition		Common
Shares
Issued		Common
Shares
Value		Cash PaidAccrued
Liability		Escrow
Deposited		Recorded
Earnout
Payable		Total
Recorded
Purchase
Price		Maximum
Potential
Earnout
Payable
(000s)
Krose GmbH & Co KG
   February 25, 2026 (KGC)
66.0$15 $203 $2 $— $— $220 $— 
McKee Risk Management, Inc.
   May 1, 2026 (MRM)
—— 135 — 5 6 146 30 
W.N. Tuscano Agency, Inc.
   July 1, 2026 (WNT)
—— 99 — 3 9 111 32 
Wilson M. Beck Insurance
   Services, Inc.
     July 1, 2026 (WMB)
—— 292 2 2 17 313 61 
Apollo Insurance Solutions Ltd.
   August 1, 2026 (APO)
—— 95 1 6 36 138 50 
 Sixteen other acquisitions completed in 2026
—— 249 6 15 49 319 89 
66.0$15 $1,073 $11 $31 $117 $1,247 $262 
Summary of Estimated Fair Values of Net Assets Acquired
The following is a summary of the estimated fair values of the net assets acquired at the date of each acquisition made in the nine-month period ended September 30, 2026 (in millions):
KGCMRMWNTWMBAPO
Sixteen Other
Acquisitions
Total
Cash and cash equivalents$4 $4 $10 $11 $19 $5 $53 
Fiduciary assets6 32 18 45 6 200 307 
Other current assets1 5 4 9 2 25 46 
Fixed assets3 — — 5 — — 8 
Noncurrent assets2 2 2 4 1 3 14 
Goodwill102 64 50 189 81 180 666 
Expiration lists120 77 53 136 57 158 601 
Non-compete agreements1 — — 1 — 3 5 
Trade names— — — 1 — — 1 
Total assets acquired239 184 137 401 166 574 1,701 
Fiduciary liabilities6 32 18 45 6 200 307 
Current liabilities10 4 7 4 2 7 34 
Noncurrent liabilities3 2 1 39 20 48 113 
Total liabilities assumed19 38 26 88 28 255 454 
Total net assets acquired$220 $146 $111 $313 $138 $319 $1,247 
Summary of Unaudited Pro Forma Historical Results The following is a summary of the unaudited pro forma historical results, as if these entities had been acquired at January 1, 2025 (in millions, except per share data):
Three-month period ended
September 30,		Nine-month period ended
September 30,
2026202520262025
Total revenues$3,979 $3,418 $12,829 $10,472 
Net earnings attributable to controlling interests403 273 1,553 1,351 
Basic net earnings per share1.57 1.06 6.05 5.28 
Diluted net earnings per share1.56 1.05 5.99 5.19