ITASCA, Ill., Dec. 16, 2010 /PRNewswire-FirstCall/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced that it has acquired Continental Excess & Surplus, Inc., trading as Continental/Marmorstein & Malone, located in Paramus, New Jersey and its affiliate, All Risk/CESI, LLC., located in New York City. Terms of the transaction were not disclosed.
With roots dating back to 1957, these agencies are wholesale insurance brokers and managing general agents providing excess and surplus lines insurance products for independent insurance agents and brokers throughout the Northeastern United States. Sue Bishop-Mischler, William H. Malone, Jr. and their associates at Continental/Marmorstein & Malone will operate as Risk Placement Services–CM&M. Maya Cruz and her associates at All Risk/CESI, LLC. will operate as Risk Placement Services–CESI. Both offices will continue to operate under the direction of Joel Cavaness, President of Risk Placement Services, Inc., a subsidiary of Arthur J. Gallagher & Co.
"Their years of surplus lines experience, solid market relationships and similar culture make our newest partners a great fit into our organization," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "This acquisition enables us to increase both our wholesale/MGA sales and service capabilities and our presence on the East Coast. We are extremely pleased to welcome Sue, Bill, Maya and their teams to our growing Risk Placement Services' family of professionals." Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 15 countries and does business in more than 100 countries around the world through a network of correspondent brokers and consultants.
Contact: Marsha J. Akin -Investor Relations
SOURCE Arthur J. Gallagher & Co.