Arthur J. Gallagher & Co. Acquires Terrier Claims Services, Inc. and MT Investigations, LLC
Rhea-AI Summary
Arthur J. Gallagher & Co. announced the acquisition of Terrier Claims Services, Inc. (TCS) and its affiliate, MT Investigations, LLC, through its subsidiary Gallagher Bassett Services. TCS, founded in 1996, specializes in claims investigation for insurance defense and government agencies across several northeastern states and nationwide. The acquisition aims to enhance Gallagher Bassett's investigative and property adjusting capabilities, especially for complex construction claims, thereby improving claims management efficiency.
Positive
- Acquisition of TCS expands Gallagher Bassett's investigative capabilities.
- Enhances services for complex construction claims, potentially reducing claim costs.
Negative
- None.
News Market Reaction – AJG
In the trading session that priced this news, AJG gained 1.47%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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ROLLING MEADOWS, Ill., April 1, 2021 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced that its risk management services subsidiary, Gallagher Bassett Services, Inc. (GB), has acquired Pleasantville, NY-based Terrier Claims Services, Inc. (TCS) and its affiliate, MT Investigations, LLC. Terms of the transaction were not disclosed.
Founded in 1996, TCS is a full-service claims investigation firm dedicated exclusively to insurance defense, third-party administrators, defense attorneys and government agencies. The team conducts extensive field investigations, trial preparation and property adjusting services in New York, New Jersey, Pennsylvania and Connecticut, in addition to nationwide desktop investigations. Daniel Sullivan, Edward Sullivan, David Perini and their associates will remain in their current locations in Pleasantville, Albany and Mineola, NY; Wall, NJ; and Philadelphia, under the direction of Jim Bond, Executive VP - Gallagher Bassett Technical Services, as an integral part of GB's Construction Practice.
"TCS will expand and enhance GB's field investigative and property adjusting capabilities, particularly with complex construction claims. Through their embedded claims team model, clients can immediately investigate and mitigate both the frequency and cost of claims," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "We are excited to welcome Dan, Edward, David and their team to our growing, global company."
Arthur J. Gallagher & Co. (NYSE:AJG), 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.