ITASCA, Ill, July 30 /PRNewswire-FirstCall/ -- Arthur J. Gallagher & Co.
today announced that it has acquired the Portland, Maine and Cranston, Rhode
Island operations from Gresham & Associates, Inc. headquartered in Atlanta,
Georgia. Terms of the transaction were not disclosed.
The two New England offices are managing general agencies and wholesale
insurance brokers providing insurance products for independent insurance
agents and brokers throughout the Northeastern United States. The offices
will operate as Risk Placement Services-Portland and Risk Placement
Services-Cranston, and their associates will continue under the direction of
Joel Cavaness, President of Risk Placement Services, Inc., a subsidiary of
Arthur J. Gallagher & Co.
"Part of our acquisition strategy is to extend our geographic footprint to
those areas where we have new sales opportunities. This expansion into New
England gives us the ability to increase our wholesale/MGA sales and services
capabilities within the six-state region," said J. Patrick Gallagher, Jr.,
Chairman, President and CEO. "We are extremely pleased to welcome our newest
associates to our growing Risk Placement Services' family of professionals."
Arthur J. Gallagher & Co., an international insurance brokerage and risk
management services firm, is headquartered in Itasca, Illinois, has operations
in 15 countries and does business in more than 100 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.
CONTACT: Marsha J. Akin, Investor Relations of Arthur J. Gallagher &
Co., 1-630-773-3800
Web Site: http://www.ajg.com/