Arthur J. Gallagher & Co. has announced that it has acquired Iowa-headquartered Horak Insurance. The terms of the transaction were not disclosed.
Horak Insurance is a retail property-casualty agency that serves commercial and personal lines clients and farms.
As part of the acquisition, Paul Horak, Luke Horak and their team will remain in their current locations. They will report to Ryan Isaacs, head of Gallagher’s Midwest region retail P&C brokerage operations.
“Horak Insurance has a longstanding reputation in the communities they serve and provides significant growth opportunities for our business in Iowa,” said J. Patrick Gallagher Jr., chairman and CEO of Arthur J. Gallagher. “I am delighted to welcome Paul, Luke and their associates to Gallagher.”
Earlier this week, Gallagher subsidiary Risk Placement Services announced the acquisition of Louisiana-based Forest Insurance Facilities. Earlier this month, Gallagher Re announced the appointment of Virgil Antonio de Souza as head of the surety and credit practice for its Latin American and Caribbean team.
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