Insurance brokerage and consulting services company Arthur J.
Gallagher & Co announced March 21 that it has reached an agreement with Kane Group to acquire the latter’s insurance management operations.
The acquisition is set to close on or before March 31 and is subject to certain closing conditions. Other terms of the transaction were not disclosed.
Kane is one of the largest global independent insurance managers in the industry. The insurance management company specializes in the development and management of insurance and alternative risk solutions, particularly for the healthcare, insurance, financial services, transportation and construction industries.
According to the Sonoran Weekly Review, Kane’s shares are up 1.2% at $44.22, with a 52-week range of $35.96 – $49.59. The company’s stock rose 0.96% or $0.42 during the last trading session, peaking at $44.1. Approximately 793,512 shares traded hands.
On the other hand, Arthur J Gallagher & Co downtrending persists, as the company declined 7.12% since August 13, 2015. Against the S&P 500 index, it has underperformed by 5.50%.
