AJG acquires retail P&C broker
Arthur J Gallagher (AJG) is set to acquire substantially all the assets of William Gallagher Associates Insurance Brokers (WGA).
Headquartered in Boston, Massachusetts, WGA has annualised revenues of approximately $50 million.
Founded in 1983, WGA provides commercial retail property and casualty (P&C) and employee benefits insurance brokerage and consulting services to middle-market and large, fast-growth clients with complex insurance needs.
In the retail P&C space, it specialises in coverage for the high tech, life science, financial institution, healthcare, real estate and renewable energy industries.
Philip Edmundson, Patrick Veale and their associates will operate from their current locations under the direction of Douglas Brown, head of Gallagher's Northeastern retail property/casualty brokerage operations, and David Ziegler, head of Gallagher's Eastern employee benefit consulting and brokerage operations.
J Patrick Gallagher, Jr, chairman, president and chief executive officer (CEO), said: ”The WGA acquisition gives us a wonderful opportunity to significantly expand our operating platform in the Eastern U.S. and market presence in two of our core businesses. Their growth strategy, operating structure and sales culture are all very similar to ours, which should make for a successful integration process.
“With our combined resources, we will also be able to offer additional and expanded sales and service capabilities to our P/C and benefits clients. We are extremely pleased to welcome Phil, Pat and their colleagues to our growing Gallagher family of professionals."
Philip Edmundson, chairman and CEO of WGA, added: "Joining Arthur J Gallagher brings new resources and global reach to our clients. Their great reputation for integrity, growth, and being one of the best places to work in this or any industry leaves me and my colleagues excited about this merger."
