Arthur J. Gallagher announces latest acquisition

The international insurance brokerage grew again late last week with the acquisition of an MGA and wholesale insurance broker.

Insurance News

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International insurance brokerage Arthur J. Gallagher grew again late last week with the announced acquisition of North Alabama Insurance, Inc.

The Florence, Alabama-based managing general agent and wholesale insurance broker provides property/casualty, commercial auto/garage and other specialty insurance placements to independent retail agents.

With the acquisition, Gallagher gains a larger footprint in the South-Central US and in the commercial auto space.

“The NAI team is well-known for their depth of underwriting experience as well as their strong market relationships,” said J. Patrick Gallagher, Jr., chairman, president and CEO of Gallagher. “Their sales culture, focus on client services and product specialization will be a great complement to Risk Placement Services’ capabilities.”

NAI’s management team, including Joshua Blevens and John Speir, will continue to operate from their current locations in Florence and Cabot, Arkansas. They will be managed by Joel Cavaness, president of Gallagher subsidiary Risk Placement Services, Inc.

Terms of the deal were not disclosed.

Arthur J. Gallagher has operations in 31 countries and offers services in more than 140 countries through correspondent brokers and consultants.
 

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