Arthur J. Gallagher & Co. Acquires Afina Insurance Advisors, Inc.

Rhea-AI Summary

Arthur J. Gallagher & Co. (NYSE:AJG) has announced the acquisition of Afina Insurance Advisors Inc., a property/casualty insurance broker based in Oakbrook Terrace, Illinois, serving the greater Chicago area. The financial terms were not disclosed. George Van Denend and his team will maintain their current location, operating under Ryan Isaacs, who heads Gallagher's Midwest region retail property/casualty brokerage operations.

The acquisition aims to complement Gallagher's existing retail brokerage capabilities in the Chicago area through Afina Insurance's niche expertise. Gallagher currently provides insurance brokerage, risk management, and consulting services across approximately 130 countries through owned operations and a network of correspondent brokers and consultants.

Positive

• Strategic expansion of Chicago-area operations through acquisition
• Addition of niche expertise to existing brokerage capabilities
• Retention of key personnel and existing location maintaining business continuity

Negative

• None.

News Market Reaction

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% News Effect

On the day this news was published, AJG declined NaN%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

ROLLING MEADOWS, Ill., Dec. 26, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Oakbrook Terrace, Illinois-based Afina Insurance Advisors Inc. (Afina Insurance). Terms of the transaction were not disclosed.

Afina Insurance is a property/casualty insurance broker serving clients in greater Chicago. George Van Denend and his team will remain in their current location under the direction of Ryan Isaacs, head of Gallagher's Midwest region retail property/casualty brokerage operations.

"Afina Insurance is a highly regarded agency whose niche expertise complements our existing retail brokerage capabilities in the Chicago area," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am delighted to welcome George 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

 

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SOURCE Arthur J. Gallagher & Co.

FAQ

What company did Arthur J. Gallagher (AJG) acquire in December 2024?

Arthur J. Gallagher acquired Afina Insurance Advisors Inc., a property/casualty insurance broker based in Oakbrook Terrace, Illinois, serving the greater Chicago area.

Where will Afina Insurance's team operate following AJG's acquisition?

Afina Insurance's team, led by George Van Denend, will remain in their current Oakbrook Terrace location, operating under Ryan Isaacs, head of Gallagher's Midwest region retail property/casualty brokerage operations.

What is the strategic benefit of AJG's Afina Insurance acquisition?

The acquisition complements Gallagher's existing retail brokerage capabilities in the Chicago area by adding Afina Insurance's niche expertise to their service offerings.

How many countries does AJG operate in after the Afina Insurance acquisition?

Arthur J. Gallagher & Co. provides services in approximately 130 countries through its owned operations and a network of correspondent brokers and consultants.