Arthur J. Gallagher & Co. Acquires DMc Insurance Partners

Rhea-AI Summary

Arthur J. Gallagher & Co. (NYSE:AJG) has announced the acquisition of DMc Insurance Partners, an Austin, Texas-based personal lines insurance agency. The acquired company serves individuals and small business owners in Austin. John McNulty, Scott Durkin, and their team will continue operations from their current location under Gino Bonacci, head of personal lines for Gallagher's U.S. retail property/casualty brokerage operations.

The acquisition aims to strengthen Gallagher's personal lines and small business capabilities in the Austin market. Financial terms of the transaction were not disclosed.

Positive

• Strategic expansion into key Austin market
• Enhancement of personal lines and small business capabilities
• Retention of existing DMc Insurance Partners team and leadership

Negative

• None.

News Market Reaction – AJG

-1.56%

-1.56% Session move

In the trading session that priced this news, AJG declined 1.56%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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ROLLING MEADOWS, Ill., Dec. 18, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Austin, Texas-based Howe Insurance Group LLC, dba DMc Insurance Partners. Terms of the transaction were not disclosed.

DMc Insurance Partners is a personal lines-focused insurance agency serving individuals and small business owners in Austin. John McNulty, Scott Durkin and their team will remain in their current location under the direction of Gino Bonacci, head of personal lines for Gallagher's U.S. retail property/casualty brokerage operations.

"DMc Insurance Partners has a strong local reputation and will expand our personal lines and small business capabilities in a key market," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am delighted to welcome John, Scott and their 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 Austin, Texas?

Arthur J. Gallagher acquired DMc Insurance Partners, a personal lines-focused insurance agency based in Austin, Texas.

Who will lead DMc Insurance Partners after the AJG acquisition?

John McNulty and Scott Durkin will remain in their current location, operating under the direction of Gino Bonacci, head of personal lines for Gallagher's U.S. retail property/casualty brokerage operations.

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

The acquisition expands Gallagher's personal lines and small business capabilities in the key Austin market, strengthening their local presence.

What was the purchase price for AJG's acquisition of DMc Insurance Partners?

The financial terms of the transaction were not disclosed in the announcement.