Arthur J. Gallagher & Co. AJG recently acquired The Hawk Agency, Inc. for an undisclosed amount. The acquisition will help Arthur J. Gallagher to boost its Midwest operations.
Founded in 1929, Peoria, IL-based The Hawk Agency provides a wide range of services that include commercial property/casualty, employee benefits, consultation in risk management and personal lines insurance. This retail insurance broker specializes in insuring the moving and storage industry.
The Hawk Agency is renowned for its remarkable client service and a high level of niche expertise. Hence, this acquisition will make substantial value addition to the acquirer’s current capabilities. The acquired company caters to its clients throughout the Midwest region. As a result, Arthur J. Gallagher will be able to expand its central Illinois operations. Post acquisition, the team at The Hawk Agency will continue to operate from its current location.
Arthur J. Gallagher’s focus on the enhancement of its inorganic growth portfolio is supported by a number of prudent acquisitions. In the third quarter of 2015 itself the company closed five acquisitions with annualized revenues grossing $61 million. Going forward, the company is likely to undertake more buyouts cushioned by a robust capital position.
Recent Acquisitions
Recently Brown & Brown of Connecticut, Inc., a subsidiary of Brown & Brown, Inc. BRO, acquired certain assets of Ocean Marine Agency, Inc. Another insurance broker, Marsh and McLennan MMC acquired the global pay and workforce metrics business provider, Comptryxs, in early October. Also in October, The Travelers Companies, Inc. TRV acquired the majority stake in the property casualty business of its J. Malucelli Participações em Seguros e Resseguros S.A. (J. Malucelli) joint venture in Brazil.
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