Arthur J. Gallagher & Co. Acquires Shepard Insurance Group

Rhea-AI Summary

Arthur J. Gallagher & Co. (NYSE:AJG) has acquired Shepard Insurance Group, a retail insurance broker based in Old Greenwich, Connecticut. Shepard specializes in serving high-net-worth clients in the Northeast US and Florida. Steve Shepard, Kyle Shepard, and their team will continue operations from their current location under Brendan Gallagher's direction, who heads Gallagher's Northeast region retail property/casualty brokerage operations. The financial terms of the acquisition were not disclosed.

Positive

• Strategic expansion of high-net-worth client services in the Northeast market
• Retention of experienced Shepard team maintaining operational continuity
• Geographic market expansion in Northeast US and Florida

Negative

• None.

News Market Reaction

+2.14%

1 alert

+2.14% News Effect

On the day this news was published, AJG gained 2.14%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

ROLLING MEADOWS, Ill., Nov. 26, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Old Greenwich, Connecticut-based Shepard Insurance Group. Terms of the transaction were not disclosed.

Shepard Insurance Group is a retail insurance broker that specializes in serving high-net-worth clients in the Northeast US and Florida. Steve Shepard, Kyle Shepard and their team will remain in their current location under the direction of Brendan Gallagher, head of Gallagher's Northeast region retail property/casualty brokerage operations.

"Shepard Insurance Group is well regarded for their client service and will expand our high-net-worth offerings in the Northeast," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am delighted to welcome Steve, Kyle 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 November 2024?

Arthur J. Gallagher acquired Shepard Insurance Group, a retail insurance broker based in Old Greenwich, Connecticut.

What is Shepard Insurance Group's specialization?

Shepard Insurance Group specializes in serving high-net-worth clients in the Northeast US and Florida regions.

Who will oversee Shepard Insurance Group's operations after the AJG acquisition?

The Shepard team will operate under the direction of Brendan Gallagher, head of Gallagher's Northeast region retail property/casualty brokerage operations.

Were the financial terms of AJG's Shepard Insurance Group acquisition disclosed?

No, the financial terms of the transaction were not disclosed.