Arthur J Gallagher & Co. AJG entered Mar 2015 with a hat trick of acquisitions. The insurance broker announced the acquisition of Illinois-based retail insurance broker NationAir Aviation Insurance, on Tuesday.
Moreover, the company announced the acquisitions of two other New Jersey- based wholesale brokers – Excel Insurance Services, Inc. and McCloskey Surplus & Excess, Inc. d/b/a Metcom Excess on Mar 2. The terms of the transactions were not disclosed.
NationAir Aviation offers the aviation industry commercial property/casualty and risk management insurance services with specialization in corporate, commercial, private and public entity coverages.
Arthur J Gallagher is set to benefit as NationAir will be an outstanding addition to its Midwest Region and aviation group. The company will also be able to expand its global client capabilities with the help of NationAir’s expert knowledge in aviation as well as robust international relationships.
Additionally, with the purchase of Excel Insurance and Metcom Arthur J Gallagher will be able to expand its geographic footprint. The company will also benefit from the in-depth industry experience and expertise, strong retail relationships and focus on client services of the two companies. Moreover, this expert knowledge will also be a great addition to the Risk Placement Services' capabilities of Arthur J Gallagher.
Arthur J. Gallagher is well-known for its inorganic growth initiatives. During 2014 the company made 60 acquisitions with annualized revenues of $761.2 million. The latest takeover marks the eight one in the current quarter. Moreover, the company’s solid liquidity position cushions its inorganic growth initiatives.
Recent Acquisitions
In February, Willis Group Holdings Public Limited Company WSH inked a deal to purchase 49% stake in a leading Indian insurance broker – Almondz Insurance Brokers Private Limited. Moreover, last month Marsh & McLennan Companies, Inc.’s MMC subsidiary – Marsh & McLennan Agency LLC – took over The Benefit Planning Group, Inc. Also, last month Brown & Brown Inc. BRO announced the acquisition of certain assets of Hall-Wright from Texas Security General Insurance Agency, Inc.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment