Arthur J. Gallagher & Co. Acquires Surety Associates of Southern California Insurance Services
On July 5, 2022, Arthur J. Gallagher & Co. announced the acquisition of Surety Associates of Southern California Insurance Services (SASC), based in La Mesa, California.
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Rhea-AI Summary
On July 5, 2022, Arthur J. Gallagher & Co. announced the acquisition of Surety Associates of Southern California Insurance Services (SASC), based in La Mesa, California. Founded in 2010, SASC specializes in surety bonds for clients in California, Arizona, and Nevada. Cyndi Beilman and her team will continue their operations, reporting to Scott Firestone, who oversees Gallagher's Southwest region. This acquisition aims to strengthen Gallagher's surety presence in the Southwest, enhancing its service offerings in the region.
Positive
- Acquisition enhances surety bond presence in the Southwest region.
- Strategic alignment with SASC's established operations in California, Arizona, and Nevada.
Negative
- None.
Details
News Market Reaction – AJG
The recorded move for AJG in the trading session of this news was +0.87%.
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ROLLING MEADOWS, Ill., July 5, 2022 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of La Mesa, Calif.-based Wrightman, Inc., doing business as Surety Associates of Southern California Insurance Services (SASC). Terms of the transaction were not disclosed.
Founded in 2010, SASC is a surety bond agency serving clients across California, Arizona and Nevada. Cyndi Beilman and her associates will continue to operate from their current location under the direction of Scott Firestone, head of Gallagher's Southwest region retail property/casualty brokerage operations.
"SACS is a well-known, well-established surety bond agency that will further enhance our surety presence in the Southwest Region," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am very pleased to welcome Cyndi 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 | Media: Kelli Murray |
VP - Investor Relations | Director – Global Media Relations |
630-285-3661/ ray_iardella@ajg.com | 847-273-3896 / kelli_murray@ajg.com |
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SOURCE Arthur J. Gallagher & Co.
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