Gallagher Buys New England Offices From Gresham & Associates
July 31, 2009 (FinancialWire) — Arthur J. Gallagher & Co. (NYSE: AJG), an insurance brokerage and risk management services firm, has acquired the Portland, Maine and Cranston, Rhode Island operations from Atlanta-based Gresham & Associates, Inc. Terms of the transaction were not disclosed.
The two offices are managing general agencies and wholesale insurance brokers providing insurance products for independent insurance agents and brokers throughout the Northeastern United States.
According to Gallagher, the offices will operate as Risk Placement Services-Portland and Risk Placement Services-Cranston, and their associates will continue under the direction of Joel Cavaness, president of Arthur J. Gallagher’s Risk Placement Services subsidiary.
company chairman and CEO J. Patrick Gallagher, Jr. said that the expansion into New England gives Gallagher the ability to increase its wholesale and MGA sales and services capabilities within the six-state region.
Itasca, Illinois-based Arthur J. Gallagher & Co. has operations in 15 countries and does business in more than 100 countries around the world through a network of correspondent brokers and consultants.
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