American insurance broker Arthur J. Gallagher has acquired Louisiana-based Files Agribusiness for an undisclosed sum.
The acquired firm is a retail insurance agency that specialises in offering Federal Crop Insurance, agribusiness property and casualty as well as agricultural aviation coverages.
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Founded in 2010, Files Agribusiness mainly serves customers in Louisiana, Arkansas and Mississippi.
Guided by Gallagher Mid-South region retail property/casualty brokerage operations head Bumpy Triche, John Files and his team will continue to operate out of their existing location.
Gallagher chairman, president and CEO J. Patrick Gallagher, Jr. said: “The Files Agribusiness team will strengthen our agribusiness capabilities and expand our geographic reach in the Federal Crop Insurance space. We are very pleased to welcome John and his associates to our growing company.”
Arthur J. Gallagher has been on an acquisition spree in the recent past.
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By GlobalDataLast week, it acquired Lloyd Bedford Cox, which is also a retail insurance company operating throughout the US, Europe, the Bahamas, and the Caribbean.
In August this year, Arthur J. Gallagher agreed to buy the treaty reinsurance brokerage operations of Willis Towers Watson (WTW) in a deal valued at $3.25bn.
The deal followed the termination of the proposed acquisition of WTW assets by Arthur J. Gallagher.
In the same month, Arthur J. Gallagher acquired a majority stake in speciality broker Brokers’ House to expand its footprint in the Turkish market.
