Arthur J. Gallagher & Co. (AJG) has acquired the insurance and risk management firm CRES Insurance Services.
Terms of the transaction were not disclosed.
Founded in 1996, CRES is a Las Vegas, NV-based firm that designs, markets and services comprehensive errors & omissions insurance and risk management services to real estate companies and professionals across the US – particularly clients in the Southwest. The firm is led by president and CEO Steven Sargenti.
CRES’s website indicates that the firm serves more than 100,000 realtors nationwide.
Following the transaction, the CRES team will continue to operate from their current locations in Las Vegas and San Diego under the supervision of Gallagher head of North American Affinity operations Kevin Garvin.
“CRES’s specialized expertise and product offerings to real estate agents complement and expand our strengths in that market,” said AJG chairman, president and CEO J. Patrick Gallagher, Jr. “I am very pleased to welcome Steve Sargenti and his associates to our growing global team.”