Arthur J. Gallagher & Co. Acquires MGA Insurance Group
ITASCA, Ill., May 27, 2014 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of MGA Insurance Group of Lakewood Ranch, Florida. Terms of the transaction were not disclosed.
Established in 1989, MGA Insurance Group (MGA) is a national program administrator that provides affinity and association program products and services for independent insurance and financial service contractors throughout the United States. It specializes in developing coverage programs for these contractors including professional liability and other affinity products such as life, ancillary health, business service discounts and training. Lou Marinaccio and his team will continue to operate from their Lakewood Ranch location under the direction of Kevin Garvin, head of Gallagher's North American affinity operations.
"We continue to look for new partners that will add to our specialty products and services capabilities, expand our geographic presence and fit well within our culture, and MGA has all of these qualities. They are well-known for their personalized service and share the same entrepreneurial spirit and team-based sales culture as Gallagher," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "MGA's strong client and insurance carrier relationships, solid underwriting expertise, national presence and deep knowledge of the affinity insurance space make them an outstanding addition to our U.S. affinity operations. We are extremely pleased to welcome Lou and his MGA team to our growing family of Gallagher professionals."
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 27 countries and offers client service capabilities in more than 140 countries around the world through a network of correspondent brokers and consultants.
Contact: Marsha J. Akin - Investor Relations
SOURCE Arthur J. Gallagher & Co.