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ITASCA, Ill., June 15 /PRNewswire-FirstCall/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced that its subsidiary, Risk Placement Services, Inc., has acquired Lemac & Associates, Inc., headquartered in Los Angeles, California. Terms of the transaction were not disclosed.
Established in 1984, Lemac & Associates, Inc. is a wholesale insurance broker and managing general agent. They provide excess and surplus property/casualty coverages including professional and general liability, workers' compensation and other specialty insurance products and services for their retail insurance agent clients throughout the United States. William Newton, President of Lemac, and his associates will continue to operate out of their current locations in Los Angeles and Orange, California under the direction of Joel Cavaness, President of Risk Placement Services, Inc.
J. Patrick Gallagher, Jr., President and Chief Executive Officer said, "For over 22 years, Lemac & Associates has successfully grown its business through a strong sales-oriented culture and a dedication to outstanding client service. Their depth of expertise is widely respected in the industry and enables them to handle any type of risk placement need. Bill and his team will be an outstanding addition to Risk Placement Services' organization, and we are pleased to welcome them 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 operation 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- 06/15/2006 /CONTACT: Marsha J. Akin, Investor Relations of Arthur J. Gallagher & Co., +1-630-773-3800/ /Web site: http://www.ajg.com / (AJG) CO: Arthur J. Gallagher & Co.; Risk Placement Services, Inc.; Lemac & Associates, Inc. ST: Illinois, California IN: INS FIN SU: TNM AB-JK -- CGTH044 -- 3904 06/15/2006 15:37 EDT http://www.prnewswire.com