AJG acquires MGA Insurance Group
Arthur J. Gallagher (AJG) has acquired Florida-based MGA Insurance Group.
Established in 1989, MGA is a national programme administrator that provides affinity and association program products and services for independent insurance and financial service contractors throughout the United States.
It specialises in developing coverage programmes for these contractors including professional liability and other affinity products such as life, ancillary health, business service discounts and training.
President and chief executive officer (CEO) of MGA, Lou Marinaccio, and his team will continue to operate from their Lakewood Ranch, Florida location under the direction of Kevin Garvin, head of Gallagher's North American affinity operations.
J. Patrick Gallagher, chairman, president and CEO, said: "We continue to look for new partners that will add to our specialty products and services capabilities, expand our geographic presence and fit well within our culture, and MGA has all of these qualities. They are well-known for their personalized service and share the same entrepreneurial spirit and team-based sales culture as Gallagher.
"MGA's strong client and insurance carrier relationships, solid underwriting expertise, national presence and deep knowledge of the affinity insurance space make them an outstanding addition to our U.S. affinity operations. We are extremely pleased to welcome Lou and his MGA team to our growing family of Gallagher professionals."