Arthur J. Gallagher & Co. has acquired captive consultant Captive Insurance Company Design and Operations (CICDO) in Chicago.
Terms of the transaction were not disclosed.
CICDO was founded in 2002 by Clarity Group. As a captive consultant, the firm focuses exclusively on medical and professional liability. Participants in the captive are primarily US healthcare providers from various areas of the industry, such as medical facilities, physicians and senior care organizations.
As part of the transaction, CICDO head Andrew Becker and his associates will relocate to Gallagher’s office in Rolling Meadows, IL, where the company is headquartered. They will report to Gallagher Midwest retail P&C brokerage operations head Patrick Gallagher.
“Andrew and his associates bring us a significant depth of captive management expertise in the medical and professional liability and healthcare space, which aligns well with and will strengthen Gallagher’s existing expertise in this practice area,” said Gallagher chairman, president and CEO J. Patrick Gallagher, Jr. in a statement.
At present, Gallagher has operations in 35 countries and provides client service capabilities in over 150 countries.