Arthur J. Gallagher & Co. has announced that its subsidiary, Risk Placement Services (RPS), has acquired Remco Insurance Agencies.
The terms of the transaction were not disclosed.
Based in Austin, TX, Remco was founded in 1987. It is a retail non-standard auto insurance agency that serves clients throughout the state of Texas.
As part of the transaction, Remco Insurance president and CEO Rahim Peerbhai and his associates will remain in their current locations under the leadership of RPS Pronto president Jorge Barcena, a company release said.
"Remco brings us strong market expertise and complements our existing footprint in Texas," said Gallagher chairman, president and CEO J. Patrick Gallagher, Jr. "I am delighted to welcome the Remco team to our growing, global company."
Gallagher kicked off 2023 with its acquisition of John C. Breckenridge Insurance Solutions (JCB). Founded in 2016 and based in Sacramento, CA, JCB is a brokerage and plan management firm that specializes in student health and intercollegiate athletics insurance for higher education institutions.