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ITASCA, Ill., Nov 01, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of InterPacific Underwriting Agencies Pty Ltd of Sydney, Australia. Terms of the transaction were not disclosed.
Founded in 1997, InterPacific Underwriting Agencies is a managing general agency offering specialized insurance products through their insurance broker clients in Australia. Roy Ellis, Chris Harnett and their InterPacific associates will join Australis Group (Underwriting) Pty Ltd, a wholly-owned subsidiary of Arthur J. Gallagher Australasia Holdings Pty Ltd. They will report directly to Julian Sparkes, Chief Executive Officer of Arthur J. Gallagher Australasia Holdings.
J. Patrick Gallagher, President and Chief Executive Officer said, "The addition of InterPacific is significant to the growth of our Australis underwriting agency. Given the limited product overlap between these two agencies, this acquisition will complement our existing client capabilities as well as expand our client base. We are extremely pleased to welcome Roy, Chris and their team 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 seven countries and does business in more than 110 countries around the world through a network of correspondent brokers and consultants. Gallagher is traded on the New York Stock Exchange under the symbol AJG.
SOURCE Arthur J. Gallagher & Co.
Investor Relations, Marsha J. Akin of Arthur J. Gallagher & Co., +1-630-773-3800