Arthur J. Gallagher & Co. Acquires Durham & Bates Agencies, Inc.

Rhea-AI Summary

Arthur J. Gallagher & Co. (NYSE:AJG) has announced the acquisition of Durham & Bates Agencies, a Portland, Oregon-based full-service insurance broker. Durham & Bates specializes in property/casualty, marine, and employee benefits services in the Pacific Northwest region.

The existing team, including Jeremy Andersen, Sean McCarthy, Christen Picot, Stephanie Murphy, and David Hearns, will maintain their current location. They will operate under Jim Buckley, who heads Gallagher's Northwest region retail property/casualty brokerage operations, and Charlie Isaacs, leader of Gallagher's West region employee benefits consulting operations.

While the transaction terms remain undisclosed, Chairman and CEO J. Patrick Gallagher, Jr. highlighted that this acquisition enhances their Pacific Northwest capabilities and presents significant growth opportunities through Durham & Bates' marine expertise.

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ROLLING MEADOWS, Ill., Dec. 19, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Portland, Oregon-based Durham & Bates Agencies, Inc. (Durham & Bates). Terms of the transaction were not disclosed.

Durham & Bates is a full-service insurance broker providing property/casualty, marine and employee benefits services to clients in the Pacific Northwest. Jeremy Andersen, Sean McCarthy, Christen Picot, Stephanie Murphy, David Hearns and their team will remain in their current location under the direction of Jim Buckley, head of Gallagher's Northwest region retail property/casualty brokerage operations, and Charlie Isaacs, head of Gallagher's West region employee benefits consulting operations.

"Durham & Bates expands our capabilities in the Pacific Northwest, and their marine expertise provides us significant opportunities for growth," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am very pleased to welcome Jeremy, Sean, Christen, Stephanie, David 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 are the strategic benefits of AJG's acquisition of Durham & Bates Agencies?

The acquisition expands AJG's capabilities in the Pacific Northwest region and adds significant marine insurance expertise, creating new growth opportunities in these specialized markets.

Will Durham & Bates retain its current team and location after the AJG acquisition?

Yes, the entire team including Jeremy Andersen, Sean McCarthy, Christen Picot, Stephanie Murphy, and David Hearns will remain in their current Portland location.

Who will oversee Durham & Bates operations following the AJG acquisition?

The team will operate under Jim Buckley, head of Northwest region retail property/casualty brokerage operations, and Charlie Isaacs, head of West region employee benefits consulting operations.

What services does Durham & Bates bring to AJG's portfolio?

Durham & Bates brings full-service insurance brokerage capabilities, including property/casualty, marine, and employee benefits services focused on the Pacific Northwest market.

When did AJG announce the Durham & Bates acquisition?

Arthur J. Gallagher & Co. announced the acquisition of Durham & Bates Agencies on December 19, 2024.