Arthur J. Gallagher & Co. Acquires R&R Benefits/Risk Management, LLC
Arthur J. Gallagher & Co. (NYSE: AJG) announced on March 23, 2021, the acquisition of South Bend, Indiana-based R&R Benefits/Risk Management, LLC.
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Rhea-AI Summary
Arthur J. Gallagher & Co. (NYSE: AJG) announced on March 23, 2021, the acquisition of South Bend, Indiana-based R&R Benefits/Risk Management, LLC. Founded in 2000, R&R Benefits specializes in employee benefit program solutions and property/casualty risk placements. The integration aims to enhance Gallagher's capabilities in managing healthcare costs and strengthen its relationships in Northern Indiana. Robert Frick, Troy Scott, and their team will continue to operate under Gallagher's Great Lakes Region leadership.
Positive
- Acquisition of R&R Benefits enhances Gallagher's employee benefit and risk management capabilities.
- R&R Benefits has strong relationships in Northern Indiana, potentially increasing Gallagher's market presence.
- Continued operation of the existing R&R team under Gallagher's leadership ensures operational continuity.
Negative
- None.
Details
News Market Reaction – AJG
The recorded move for AJG in the trading session of this news was +0.41%.
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ROLLING MEADOWS, Ill., March 23, 2021 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of South Bend, Indiana-based R&R Benefits/Risk Management, LLC. Terms of the transaction were not disclosed.
Founded in 2000, R&R Benefits is an independent insurance agency offering employee benefit program solutions, as well as property/casualty risk placements, in the traditional and alternative risk financing market. Robert Frick, Troy Scott and their associates will continue operating from their current location under the direction of Tom Lannen, head of Gallagher's Great Lakes Region employee benefits consulting and brokerage operations, and Cindy LaMantia, head of Gallagher's Great Lakes Region retail property/casualty brokerage operations.
"R&R offers creative approaches to helping clients manage healthcare costs, and the team's public entity expertise and strong relationships across Northern Indiana will further enhance Gallagher's capabilities in that market," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "We are very pleased to welcome Bob, Troy and their associates to our growing global team."
Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 49 countries and offers client-service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
Investors: Ray Iardella | Media: Linda J. Collins |
VP – Investor Relations | VP – Corporate Communications |
630-285-3661/ ray_iardella@ajg.com | 630-285-4009/ linda_collins@ajg.com |
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SOURCE Arthur J. Gallagher & Co.
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