Arthur J. Gallagher & Co. Acquires Crawford Insurance, LLC

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Rhea-AI Summary

Arthur J. Gallagher & Co. (NYSE: AJG) announced the acquisition of Crawford Insurance, a Pittsburgh-based retail insurance agency specializing in property/casualty products for commercial and personal lines in Pennsylvania, South Carolina, and Virginia. Terms of the deal were not disclosed. Crawford Insurance, a multi-generation family business, will continue operations under the direction of Sean Gallagher, head of Gallagher's Great Lakes region. CEO J. Patrick Gallagher Jr. praised Crawford Insurance's market expertise and client service commitment. AJG operates globally in 130 countries and provides insurance brokerage, risk management, and consulting services.

Positive

Acquisition of Crawford Insurance expands AJG's market presence in Pennsylvania, South Carolina, and Virginia.
Integration of Crawford Insurance's experienced team bolsters AJG's client service capabilities.
Continued leadership under Sean Gallagher ensures operational continuity.
Enhancement of AJG's retail property/casualty brokerage operations.
AJG's global presence across 130 countries highlights its expansive reach.

Negative

Terms of the transaction were not disclosed, limiting transparency for investors.
No immediate financial benefits or synergies from the acquisition were mentioned.
Potential integration challenges with Crawford Insurance's existing operations.

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06/04/2024 - 09:00 AM EDT

ROLLING MEADOWS, Ill., June 4, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Pittsburgh, Pennsylvania-based Crawford Insurance, LLC. Terms of the transaction were not disclosed.

Crawford Insurance is a retail insurance agency offering property/casualty products to commercial and personal lines clients in Pennsylvania, South Carolina and Virginia. James Crawford and his team will remain in their current location under the direction of Sean Gallagher, head of Gallagher's Great Lakes region retail property/casualty brokerage operations.

"Crawford Insurance has long-standing market expertise as a multi-generation family business and shares our commitment to client service," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am delighted to welcome Jim and his associates to Gallagher."

Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.

Investors: Ray Iardella, VP - Investor Relations Media: Paul Day, Communications Manager
630-285-3661/ ray_iardella@ajg.com 630-285-5946/ paul_day1@ajg.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/arthur-j-gallagher--co-acquires-crawford-insurance-llc-302162124.html

SOURCE Arthur J. Gallagher & Co.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What company did Arthur J. Gallagher & Co. acquire?

Arthur J. Gallagher & Co. acquired Crawford Insurance, a Pittsburgh-based retail insurance agency.

When did Arthur J. Gallagher & Co. announce the acquisition of Crawford Insurance?

Arthur J. Gallagher & Co. announced the acquisition on June 4, 2024.

Which regions does Crawford Insurance operate in?

Crawford Insurance operates in Pennsylvania, South Carolina, and Virginia.

Who will oversee Crawford Insurance's operations post-acquisition?

Sean Gallagher, head of Gallagher's Great Lakes region retail property/casualty brokerage operations, will oversee Crawford Insurance's operations.

What services does Arthur J. Gallagher & Co. provide?

Arthur J. Gallagher & Co. provides insurance brokerage, risk management, and consulting services globally.

Arthur J. Gallagher & Co. Acquires Crawford Insurance, LLC