Arthur J. Gallagher & Co. Acquires BMR Insurance

Rhea-AI Summary

Arthur J. Gallagher & Co. (NYSE:AJG) has announced the acquisition of BMR Insurance, a Tustin, California-based retail insurance agency. BMR Insurance, operating as Murray Gardner Insurance Agency Inc., serves commercial and personal lines clients primarily in Southern California.

The BMR team, led by Gary Arch, will maintain their current location under Scott Firestone's direction, who heads Gallagher's Southwest region retail property/casualty brokerage operations. Chairman and CEO J. Patrick Gallagher, Jr. highlighted the cultural alignment between the companies and welcomed the expansion of their retail brokerage capabilities in Southern California.

Gallagher, headquartered in Rolling Meadows, Illinois, operates as a global insurance brokerage, risk management, and consulting services firm across approximately 130 countries. Financial terms of the transaction were not disclosed.

News Market Reaction – AJG

-0.63%

1 alert

-0.63% News Effect

On the day this news was published, AJG declined 0.63%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

ROLLING MEADOWS, Ill., Dec. 27, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Tustin, California-based Murray Gardner Insurance Agency Inc., dba BMR Insurance. Terms of the transaction were not disclosed.

BMR Insurance is a retail insurance agency serving commercial and personal lines clients primarily across Southern California. Gary Arch and his team will remain in their current location under the direction of Scott Firestone, head of Gallagher's Southwest region retail property/casualty brokerage operations.

"BMR Insurance has a culture like our own and will expand our retail brokerage capabilities in Southern California," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am delighted to welcome Gary 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-bmr-insurance-302338470.html

SOURCE Arthur J. Gallagher & Co.

FAQ

What is the strategic importance of AJG's acquisition of BMR Insurance?

The acquisition expands AJG's retail brokerage capabilities in Southern California and adds a culturally aligned team to their operations, strengthening their market presence in the region.

Where will BMR Insurance's operations be integrated within AJG's structure?

BMR Insurance's team will remain in their Tustin, California location, operating under Scott Firestone, who leads AJG's Southwest region retail property/casualty brokerage operations.

What is BMR Insurance's primary market focus?

BMR Insurance primarily serves commercial and personal lines clients across Southern California as a retail insurance agency.

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

AJG operates in approximately 130 countries through its owned operations and a network of correspondent brokers and consultants.

When did AJG announce the acquisition of BMR Insurance?

AJG announced the acquisition of BMR Insurance on December 27, 2024.