Arthur J. Gallagher & Co. Acquires Statewide Commercial Insurance Brokers

Rhea-AI Summary

Arthur J. Gallagher & Co. (NYSE:AJG) has acquired Statewide Commercial Insurance Brokers, an Altadena, California-based retail property/casualty insurance agency. The acquired company specializes in construction contractors for commercial clients across California and other U.S. states.

Led by Lana Matar, the team will maintain their current location under Scott Firestone's direction, who heads Gallagher's Southwest region retail property/casualty brokerage operations. The financial terms of the acquisition were not disclosed.

The acquisition strengthens Gallagher's retail brokerage capabilities in Southern California, adding specialized expertise to their existing operations which span approximately 130 countries through owned operations and correspondent networks.

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ROLLING MEADOWS, Ill., Nov. 4, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Altadena, California-based American Matar International, Inc., dba Statewide Commercial Insurance Brokers. Terms of the transaction were not disclosed.

Statewide Commercial Insurance Brokers is a retail property/casualty insurance agency specializing in construction contractors for commercial clients in California and several other U.S. states. Lana Matar and her team will remain in their current location under the direction of Scott Firestone, head of Gallagher's Southwest region retail property/casualty brokerage operations.

"Statewide Commercial Insurance Brokers is a well-regarded agency with niche expertise that complements our retail brokerage capabilities in Southern California," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am very pleased to welcome Lana and her 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 Statewide Commercial Insurance Brokers, based in Altadena, California.

What is Statewide Commercial Insurance Brokers' specialization?

Statewide Commercial Insurance Brokers specializes in property/casualty insurance for construction contractors, serving commercial clients in California and several other U.S. states.

Who will lead the Statewide Commercial Insurance Brokers team after the AJG acquisition?

Lana Matar and her team will remain in their current location, operating under Scott Firestone, who heads Gallagher's Southwest region retail property/casualty brokerage operations.

How will this acquisition benefit Arthur J. Gallagher's (AJG) operations?

The acquisition complements Gallagher's retail brokerage capabilities in Southern California by adding niche expertise in construction contractor insurance.