US insurer Arthur J Gallagher, through its Risk Placement Services (RPS) division, has acquired CCI Surety for an undisclosed sum.
The acquired company is a Minnesota-based MGU specialising in wholesale contract and commercial surety bonds for retail agents across the US.
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Founded by Michael Williams and currently led by Jeremy Crawford, CCI Surety will continue to operate from its Golden Valley location.
The CCI Surety team will work under the leadership of Matt Lynch, the head of RPS’ national binding operations.
Gallagher chairman and CEO J Patrick Gallagher Jr said: “CCI Surety is a well-established agency whose wholesale surety platform expands RPS’ product offerings. I am very pleased to welcome Jeremy and his associates to our growing team.”
In a separate development, Gallagher has also entered into a preferred partner agreement with ScotPac, an Australia-based, non-bank business lender.
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By GlobalDataThis partnership aims to provide a suite of finance and insurance products for small and medium-sized enterprises (SMEs).
These include business loans, asset finance, and various insurance coverages such as public liability insurance, professional indemnity insurance and mobile plant and equipment cover.
Gallagher’s footprint in Australia spans more than 30 branches and 1,100 insurance professionals.
Besides benefitting from the tech-powered platforms used by Gallagher, customers of both companies can also be qualified for special rates and flow-through cost savings.
Gallagher Australia managing director of partnerships and agency Andrew Whittle said: “Partnering with ScotPac is a natural fit for our business in terms of our national SME reach, our distribution models and our tech-enabled delivery platforms.
“It is all about providing solutions that will make running a business easier for our SME clients. We look forward to working with ScotPac to help our clients make more informed decisions about their business finance, insurance and risk needs.”
