Arthur J. Gallagher & Co. Acquires M.J. Schuetz Insurance Services Inc.

Rhea-AI Summary

Arthur J. Gallagher & Co. (NYSE:AJG) has announced the acquisition of M.J. Schuetz Insurance Services Inc., an Indianapolis-based insurance provider. Schuetz Insurance specializes in property/casualty, surety and bonding services across the Midwest, with particular expertise in construction, landscaping, manufacturing and real estate sectors.

The Schuetz Insurance team, including Dave Linthicum, Mike Cocoran, Jenni Waggoner, Stella Milli, and Pamela Kreeb, will maintain their current location under Sean Gallagher's leadership, who heads Gallagher's Great Lakes region retail property/casualty brokerage operations. Financial terms of the transaction were not disclosed.

Positive

• Strategic expansion of retail brokerage operations in the Midwest region
• Acquisition adds specialized expertise in construction, landscaping, manufacturing, and real estate sectors
• Retention of experienced Schuetz Insurance team maintaining operational continuity

Negative

• None.

News Market Reaction – AJG

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

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ROLLING MEADOWS, Ill., Dec. 18, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Indianapolis, Indiana-based M.J. Schuetz Insurance Services Inc. (Schuetz Insurance). Terms of the transaction were not disclosed.

Schuetz Insurance provides property/casualty, surety and bonding services throughout the Midwest with industry expertise in construction, landscaping, manufacturing and real estate. Dave Linthicum, Mike Cocoran, Jenni Waggoner, Stella Milli, Pamela Kreeb and their 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.

"Schuetz Insurance has a deep history of growth and client service, and their strong niche capabilities will enhance our retail brokerage operations in the Midwest," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am very pleased to welcome the Schuetz Insurance team to our growing Gallagher family of professionals."

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 companies are involved in AJG's latest acquisition?

Arthur J. Gallagher & Co. (NYSE:AJG) has acquired M.J. Schuetz Insurance Services Inc., an Indianapolis-based insurance provider.

What services does the newly acquired Schuetz Insurance provide?

Schuetz Insurance provides property/casualty, surety and bonding services throughout the Midwest, with expertise in construction, landscaping, manufacturing and real estate sectors.

Who will lead the Schuetz Insurance team after AJG's acquisition?

The Schuetz team will remain in their current location under Sean Gallagher, head of Gallagher's Great Lakes region retail property/casualty brokerage operations.

How will the Schuetz Insurance acquisition benefit AJG's operations?

The acquisition will enhance AJG's retail brokerage operations in the Midwest by adding strong niche capabilities and industry expertise in specific sectors.