Arthur J. Gallagher & Co. (NYSE:AJG) shares strengthen Monday, as the Rolling Meadows, Ill.-based firm announced the acquisition of Fort Lauderdale, Florida-based John Galt Commercial Insurance Agency, LLC and John Galt Insurance Agency, Inc., collectively referred to as The John Galt Insurance Agency. Terms of the transaction were not disclosed.
The John Galt Insurance Agency provides full-service property/casualty insurance coverages with expertise in commercial and multi-family real estate across Florida. Jim Rudd and the John Galt team will remain in their current location under the direction of Bumpy Triche, head of Gallagher's Southeast retail property/casualty brokerage operations.
"The John Galt Insurance Agency's expertise will expand our capabilities in the condominium and association entity real estate niche in Florida," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am delighted to welcome Jim and his associates to Gallagher."
The company made headlines last week when it purchase FarmPLUS Insurance Services is a retail agency providing agricultural and crop insurance coverages in Virginia , North Carolina and South Carolina . Tim Alderson , Amy Alderson and their team will remain in their current location under the direction of Bumpy Triche, head of Gallagher's Southeast retail property/casualty brokerage operations.
Arthur J. Gallagher, 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.
AJG shares vaulted 21 cents to $232.95.
