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ITASCA, Ill., Dec. 21 /PRNewswire-FirstCall/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Mid America Group, Inc. located in Philadelphia, Pennsylvania. Terms of the transaction were not disclosed.
Established in 1970 as an employee and executive benefit consulting firm, Mid America Group now offers a wide range of employee benefit consultation and brokerage services which include life insurance, group benefits, and financial planning services. Alvin Block, Gary Block and their associates will continue to operate in their current location under the direction of David Ziegler, Eastern Regional Executive Vice President of Gallagher Benefit Services, Inc., a subsidiary of Arthur J. Gallagher & Co.
J. Patrick Gallagher, Chairman, President and CEO of Arthur J. Gallagher & Co., stated, "Mid America Group is a great example of a merger partnership that fits well within our sales and service culture. Their company's foundation is built on close business relationships and quality client service. Simply put, their customers are priority one, and they focus on that goal every day. They will be a wonderful complement to our Benefit Services Division, and we are pleased to welcome Alvin, Gary 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 120 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. -0- 12/21/2006 /CONTACT: Investor Relations, Marsha J. Akin of Arthur J. Gallagher & Co., +1-630-773-3800/ /Web site: http://www.ajg.com / (AJG) CO: Arthur J. Gallagher & Co.; Mid America Group, Inc. ST: Illinois, Pennsylvania IN: FIN INS SU: TNM CM-AM -- CGTH044 -- 0170 12/21/2006 16:49 EST http://www.prnewswire.com