AJG acquires Connecticut MGA
International broker Arthur J Gallagher & Co (AJG) has acquired wholesale broker Joseph Distel & Co (Distel) in Farmington, Connecticut.
Terms of the transaction have not been disclosed.
Founded in 1955, Distel is a managing general agent (MGA) as well as a broker. It provides excess and surplus, property/casualty, professional business liability and other specialty insurance products and services to its independent insurance agent and broker clients throughout the Northeast. Distel specialises in insurance coverage for the transportation industry.
Ken Distel and his associates will continue to operate from their location in Farmington under the direction of Joel Cavaness, president of Risk Placement Services, a subsidiary of Arthur J Gallagher & Co.
J Patrick Gallagher, Jr, president and chief executive officer, AJG, said: "The Distel team is well known for their depth of experience and dedication to client service. Not only do they add to our wholesale geographic footprint, but their talented sales culture brings over 60 years of specialty product knowledge which enables them to handle and match hard to place risks with the appropriate market.
“Their expertise will be a wonderful complement to our expanding wholesale network, and we are extremely pleased to welcome Ken and his colleagues to our growing Risk Placement Services' family of professionals."
