<ARTICLE> 5
<LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM 
         THE ARTHUR J. GALLAGHER & CO. CONSOLIDATED FINANCIAL STATEMENTS
         INCLUDED IN THE 1995 FIRST QUARTER FORM 10-Q AND IS QUALIFIED IN ITS
         ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                               
<PERIOD-TYPE>                     3-MOS
<FISCAL-YEAR-END>                           DEC-31-1995
<PERIOD-START>                              JAN-01-1995
<PERIOD-END>                                MAR-31-1995
<CASH>                                          112,695
<SECURITIES>                                     44,318
<RECEIVABLES>                                   161,672
<ALLOWANCES>                                        786
<INVENTORY>                                           0
<CURRENT-ASSETS>                                336,937
<PP&E>                                           62,366
<DEPRECIATION>                                 (41,273)
<TOTAL-ASSETS>                                  438,868
<CURRENT-LIABILITIES>                           324,393
<BONDS>                                               0
<COMMON>                                         15,017
<PREFERRED-MANDATORY>                                 0
<PREFERRED>                                           0
<OTHER-SE>                                       87,225
<TOTAL-LIABILITY-AND-EQUITY>                    438,868
<SALES>                                          87,862
<TOTAL-REVENUES>                                 90,523
<CGS>                                            50,523
<TOTAL-COSTS>                                    50,523
<OTHER-EXPENSES>                                 30,339
<LOSS-PROVISION>                                      0
<INTEREST-EXPENSE>                                  137
<INCOME-PRETAX>                                   9,661
<INCOME-TAX>                                      3,381
<INCOME-CONTINUING>                               6,280
<DISCONTINUED>                                        0
<EXTRAORDINARY>                                       0
<CHANGES>                                             0
<NET-INCOME>                                      6,280
<EPS-PRIMARY>                                       .40
<EPS-DILUTED>                                       .40