Arthur J. Gallagher & Co. has announced that it has reached a definitive agreement to acquire Michigan-based LSG Insurance Partners. The acquisition is expected to close in the fourth quarter.
Founded in 1968, LSG Insurance Partners is one of the leading independent insurance, risk management, and consulting agencies in Michigan. It offers employee benefits, commercial property-casualty, private-client, and merger and acquisition services and coverages to clients throughout the Midwest and across the country.
LSG President Jay Schreibman, executive Todd Preston, and their associates will continue to operate from the company’s Bloomfield Hills, Mich., and Milwaukee locations. They will report to Tom Lannen, head of Gallagher’s Great Lakes region employee benefits consulting and brokerage operations, and Cindy LaMantia, head of Gallagher’s Great Lakes region retail property-casualty brokerage operations.
“With their deep capabilities, focused consultative approach and strong emphasis on cross-selling, the LSG team will be a terrific strategic complement to our US brokerage and consulting operations,” said J. Patrick Gallagher Jr., chairman, president and CEO of Arthur J. Gallagher. “We are eager to welcome Jay, Todd and their associates to our growing team.”
“Adding LSG to our existing presence in Michigan makes us an even more formidable player,” Lannen said. “We are very excited about the impact that our combined team will have on our clients.”
“For over 50 years, we have focused on the power of partnership with one goal in mind – to be the best possible advisor and advocate for our valued clients,” Schreibman said. “We will be delighted to bring our clients the deep expertise and broad access to products and services Gallagher offers, while maintaining our high-touch, service-driven approach. This will give us the scale, geographic reach and multi-channel network to effectively support our clients as their businesses grow.”