Arthur J. Gallagher & Co. Acquires Tejas American General Agency, LLC
On November 2, 2022, Arthur J. Gallagher announced the acquisition of Tejas American General Agency (TAGA), a Texas-based managing general agency specializing in commercial, farm, and personal insurance products.
Sentiment and the balance of points
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Rhea-AI Summary
On November 2, 2022, Arthur J. Gallagher announced the acquisition of Tejas American General Agency (TAGA), a Texas-based managing general agency specializing in commercial, farm, and personal insurance products. The acquisition is expected to enhance Gallagher's growth opportunities in Texas. Key executives from TAGA will continue to operate under Risk Placement Services, Inc., a division of Gallagher, under the direction of Kevin Doyle. The transaction terms remain undisclosed, with Gallagher emphasizing TAGA's strong culture and expertise as assets for future expansion.
Positive
- Expansion into Texas market expected to enhance growth opportunities.
- TAGA's expertise aligns well with Gallagher's business strategy.
- Retention of TAGA's experienced team ensures continuity and integration.
Negative
- None.
Details
News Market Reaction – AJG
The recorded move for AJG in the trading session of this news was -1.10%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
ROLLING MEADOWS, Ill., Nov. 2, 2022 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced that its U.S. wholesale brokerage, binding authority and programs division, Risk Placement Services, Inc. (RPS), has acquired Cedar Park, Texas-based Tejas American General Agency, LLC (TAGA). Terms of the transaction were not disclosed.
Founded in 1997, TAGA is a managing general agency offering commercial, farm and personal insurance products to independent agents throughout Texas. Bart Koch, Anita Herzog, Cindy Yurkovich, Richard Salley and their team will remain in their current location under the direction of Kevin Doyle, VP-Western Region & Chicago for RPS.
"TAGA is a well-regarded agency whose deep expertise and strong culture will enhance our growth opportunities in Texas," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am very pleased to welcome Bart, Anita, Cindy, Richard and their associates to our global company."
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: Paul Day |
VP - Investor Relations | 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.
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