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Business Combinations (Tables) | 9 Months Ended
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Sep. 30, 2025
Business Combinations [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 Paid |  | Accrued Liability |  | Escrow Deposited |  | Recorded Earnout Payable |  | Total Recorded Purchase Price |  | Maximum Potential Earnout Payable
|  | (000s) |  |  |  |  |  |  |  |  |  |  |  |  |  |
W K Webster & Co Ltd February 1, 2025 (WKW) |  | — |  | $ | — |  |  | $ | 138.4 |  |  | $ | 1.9 |  |  | $ | — |  |  | $ | 14.3 |  |  | $ | 154.6 |  |  | $ | 28.5 |
Case Group February 26, 2025 (CSG) |  | — |  | — |  |  | 57.8 |  |  | 3.5 |  |  | 6.5 |  |  | 15.0 |  |  | 82.8 |  |  | 84.1 |
Woodruff Sawyer & Co April 10, 2025 (WSC) |  | — |  | — |  |  | 1,195.5 |  |  | 12.2 |  |  | 66.6 |  |  | — |  |  | 1,274.3 |  |  | — |
Dolphin TopCo, Inc., the holding company of AssuredPartners, Inc. August 18, 2025 (APG) |  | — |  | — |  |  | 13,444.9 |  |  | — |  |  | 335.0 |  |  | — |  |  | 13,779.9 |  |  | — |
Twenty-two other acquisitions completed in 2025 |  | 58 |  | 16.0 |  |  | 403.3 |  |  | 19.1 |  |  | 15.3 |  |  | 63.1 |  |  | 516.8 |  |  | 132.1 |
|  | 58 |  | $ | 16.0 |  |  | $ | 15,239.9 |  |  | $ | 36.7 |  |  | $ | 423.4 |  |  | $ | 92.4 |  |  | $ | 15,808.4 |  |  | $ | 244.7 |
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, 2025 (in millions):
| WKW |  | CSG |  | WSC | APG | Twenty-two Other Acquisitions |  | Total
Cash and cash equivalents | $ | 5.3 |  |  | $ | 5.6 |  |  | $ | 61.9 |  | $ | 165.7 |  | $ | 25.8 |  |  | $ | 264.3 |
Fiduciary assets | 86.8 |  |  | — |  |  | 465.3 |  | 1,123.8 |  | 42.8 |  |  | 1,718.7 |
Other current assets | 16.7 |  |  | 4.0 |  |  | 77.9 |  | 1,037.2 |  | 13.1 |  |  | 1,148.9 |
Fixed assets | 2.8 |  |  | 1.0 |  |  | 12.8 |  | 133.9 |  | 1.1 |  |  | 151.6 |
Noncurrent assets | 2.2 |  |  | 0.3 |  |  | 25.1 |  | 234.1 |  | 3.2 |  |  | 264.9 |
Goodwill | 99.6 |  |  | 49.5 |  |  | 811.9 |  | 8,276.4 |  | 302.5 |  |  | 9,539.9 |
Expiration lists | 53.6 |  |  | 36.2 |  |  | 459.2 |  | 5,993.3 |  | 232.3 |  |  | 6,774.6 |
Non-compete agreements | — |  |  | 7.3 |  |  | — |  | — |  | 4.6 |  |  | 11.9 |
Trade names | 2.2 |  |  | — |  |  | 8.4 |  | 26.9 |  | — |  |  | 37.5 |
Total assets acquired | 269.2 |  |  | 103.9 |  |  | 1,922.5 |  | 16,991.3 |  | 625.4 |  |  | 19,912.3 |
Fiduciary liabilities | 86.8 |  |  | — |  |  | 465.3 |  | 1,123.8 |  | 42.8 |  |  | 1,718.7 |
Current liabilities | 11.8 |  |  | 7.3 |  |  | 35.2 |  | 867.8 |  | 15.0 |  |  | 937.1 |
Noncurrent liabilities | 16.0 |  |  | 13.8 |  |  | 147.7 |  | 1,219.8 |  | 50.8 |  |  | 1,448.1 |
Total liabilities assumed | 114.6 |  |  | 21.1 |  |  | 648.2 |  | 3,211.4 |  | 108.6 |  |  | 4,103.9 |
Total net assets acquired | $ | 154.6 |  |  | $ | 82.8 |  |  | $ | 1,274.3 |  | $ | 13,779.9 |  | $ | 516.8 |  |  | $ | 15,808.4 |
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, 2024 (in millions, except per share data):
| Three-month period ended September 30, |  | Nine-month period ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Total revenues | $ | 3,881.5 |  |  | $ | 3,646.1 |  |  | $ | 12,505.5 |  |  | $ | 11,346.0 |
Net earnings attributable to controlling interests | 382.5 |  |  | 332.1 |  |  | 1,467.1 |  |  | 1,232.3 |
Basic net earnings per share | 1.49 |  |  | 1.31 |  |  | 5.73 |  |  | 4.86 |
Diluted net earnings per share | 1.47 |  |  | 1.28 |  |  | 5.64 |  |  | 4.78 |

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