ITASCA, Ill., Feb. 17, 2015 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Cohn Financial Group, LLC located in Phoenix, Arizona. Terms of the transaction were not disclosed.
Established in 1987, Cohn Financial Group (CFG) is a private placement life insurance distributor that works exclusively with high net worth families and individuals throughout the United States. Its team specializes in customized private placement variable universal life insurance and private placement variable annuities. They also assist in creating insurance-dedicated funds for preferred investment firms to manage premiums and cash values inside the policy or annuity. Michael Cohn and his associates will continue to operate in their current location under the direction of Norbert Chung, head of Gallagher's Western employee benefit consulting and brokerage operations.
"CFG is well regarded for its depth of expertise and strong experience in ultra-complex life insurance cases as well as its high-level of quality service which is required for these policies," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "They also have a strong distribution network that offers the potential for future cross-selling opportunities. Their team's highly specialized practice focus and service model will be a wonderful addition to our employee benefits team, and we are pleased to welcome Mike and his colleagues to our growing Gallagher family of professionals."
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 30 countries and offers client-service capabilities in more than 140 countries around the world through a network of correspondent brokers and consultants.
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SOURCE Arthur J. Gallagher & Co.