Arthur J. Gallagher & Co. Acquires Peabody Insurance Agency, Inc.

Rhea-AI Summary

Arthur J. Gallagher & Co. (NYSE:AJG) has acquired Peabody Insurance Agency, a Fenton, Michigan-based retail insurance agency. Peabody Insurance specializes in serving commercial and personal lines clients in southeast Michigan, with focus areas in construction, manufacturing and multifamily real estate.

The Peabody team, including Jim Peabody and Grace Peabody-Ljoljic, will continue operations from their current location under Sean Gallagher's leadership, who heads Gallagher's Great Lakes region retail property/casualty brokerage operations. Financial terms were not disclosed.

ROLLING MEADOWS, Ill., Nov. 5, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Fenton, Michigan-based Peabody Insurance Agency, Inc. (Peabody Insurance). Terms of the transaction were not disclosed.

Peabody Insurance is a retail insurance agency serving commercial and personal lines clients primarily in southeast Michigan with specializations in construction, manufacturing and multifamily real estate. Jim Peabody, Grace Peabody-Ljoljic, their family and 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.

"Peabody Insurance is a highly regarded agency with niche expertise that will enhance our retail brokerage capabilities in Michigan," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am delighted to welcome Jim, Grace, their family and 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 November 2024?

Arthur J. Gallagher acquired Peabody Insurance Agency, a retail insurance agency based in Fenton, Michigan.

What are Peabody Insurance Agency's main specializations?

Peabody Insurance Agency specializes in construction, manufacturing, and multifamily real estate insurance services.

Will Peabody Insurance Agency's team remain in their current location after the AJG acquisition?

Yes, Jim Peabody, Grace Peabody-Ljoljic, their family and team will remain in their current location under Sean Gallagher's direction.

What region does Peabody Insurance Agency primarily serve?

Peabody Insurance Agency primarily serves clients in southeast Michigan.