AJG acquires two New Jersey wholesale brokers
Arthur J. Gallagher (AJG) has acquired two New Jersey wholesale brokers.
AJG acquired Excel Insurance Services and McCloskey Surplus & Excess, which does business as Metcom Excess.
Established in 1999, Excel is a commercial property and casualty (P&C) and personal lines wholesale broker that offers coverages for hard-to-place risks to its agent and broker clients throughout the Northeastern US.
It specialises in the hospitality, real estate, construction and auto industries. Dennis Pellegrino, Jr, and his associates will continue to operate from their current location under the direction of Joel Cavaness, president of Risk Placement Services, a subsidiary of AJG.
Founded in 1979, Metcom is a managing general agent and wholesale insurance broker that provides excess and surplus, P&C, commercial binding and brokerage, professional liability and other specialty insurance products and services to its agent and broker clients throughout the Northeastern US.
It also specialises in personal lines and insurance coverages for the transportation industry. Charles McCloskey, Jr, and his colleagues will also operate from their current location under the direction of Cavaness.
J Patrick Gallagher, Jr, chairman, president and chief executive officer, said: "We are always looking for new partners that are highly-regarded within the industry, will expand our geographic presence and fit within our unique sales culture. We have found all those qualities in these two outstanding firms.
“The Excel and Metcom teams bring their depth of industry experience and expertise, strong retail relationships and focus on client services. Their specialisations will be a great complement to Risk Placement Services' capabilities. We are extremely pleased to welcome Dennis, Charlie and their teams to the Risk Placement Services family of professionals."
