ROLLING MEADOWS, Ill., Nov. 9, 2022 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Cary, North Carolina-based PIUS Limited, LLC and its affiliate Newlight Capital, LLC. Terms of the transaction were not disclosed.
Founded in 2016, PIUS (Patent Insurance Underwriting Services) is a managing general agent offering a proprietary insurance product that allows clients to insure certain intellectual property assets. Joe Agiato and his associates will remain in their current locations under the direction of Patrick Kennedy, head of Gallagher's Northeast region retail property/casualty brokerage operations.
"PIUS' unique offering of insurance solutions to emerging companies that have substantial intellectual property assets is a critical product that enables clients significant opportunities for growth," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am delighted to welcome Joe and his team to Gallagher."
Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.
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SOURCE Arthur J. Gallagher & Co.