Arthur J. Gallagher (Gallagher), a US-based insurance broker and risk manager, has further expanded its national presence with the acquisition of Florida-based Specialty Risk Management Services and its affiliate, Private Client Insurance Services.
The consideration paid for the deal was not divulged.
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Specialty Risk Management Services specialises in managing a property insurance programme tailored for businesses in Florida.
Private Client Insurance Services focuses on commercial risks, condominium associations and personal lines.
Elaine Hawkins, Wes Brewer and their team will continue to be based at their existing location.
They will now operate under the leadership of Bumpy Triche, who heads Gallagher’s south-east retail property/casualty brokerage operations.
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By GlobalDataGallagher chairman and CEO J Patrick Gallagher Jr. said: “Specialty Risk Management Services and Private Client Insurance Services have a culture similar to ours and will deepen our service offerings in a key market. I am delighted to welcome Elaine, Wes and their associates to Gallagher.”
Based in Rolling Meadows, Illinois, Gallagher operates in nearly 130 countries, delivering services through both owned operations and a network of correspondent brokers and consultants.
The latest deal continues its recent buying spree.
In February 2024, Gallagher bought Fort Lauderdale, Florida-based John Galt Commercial Insurance Agency, and John Galt Insurance Agency, together called the John Galt Insurance Agency.
Earlier this year, the broker bolstered its network with the acquisition of MGB Re in Canada, as well as the Rowley Agency and Horak Insurance in the US.
MGB Re, based in Toronto, offers reinsurance solutions to health maintenance organisations, managing general underwriters and insurance companies.
The Rowley Agency, located in New Hampshire, serves both commercial and personal lines clients as a retail insurance broker.
Horak Insurance, based in Washington, Iowa, caters to commercial and personal lines clients and also provides policies to farms.
