Gallagher reveals major Texas acquisition

Gallagher reveals major Texas acquisition | Insurance Business

Gallagher reveals major Texas acquisition

Arthur J. Gallagher & Co. has acquired Serna Insurance Agency in Humble, TX.

Terms of the transaction were not disclosed.

Serna Insurance Agency, founded in 2001, provides private client, personal lines and commercial insurance products and services to clients in Texas and other surrounding states. Founders Pete and Martha Serna, as well as their associates, will continue to operate from their current location under the administration of Gallagher US personal lines operations head Jeff Saunders.

“Personal lines is an important strategic initiative for Gallagher, and Serna’s reputation as a high-quality personal lines agency across Texas is a natural fit with our strategy,” said Gallagher chairman, president and CEO J. Patrick Gallagher Jr.

“The Serna Insurance Agency is among the largest independent private client and personal lines agencies in Texas,” commented Saunders, adding that Serna has built an “excellent” reputation as a trusted advisor.

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Earlier this month, Gallagher acquired the university services book of business of California-based Garnett-Powers & Associates Insurance Services. The education-focused practice offers medical, dental, vision, life, accidental death and dismemberment, and disability insurance plans to university postdoctoral students and visiting scholars, as well as health insurance plans to university students.