Arthur J. Gallagher & Co. Acquires The Merriam Agency
Arthur J. Gallagher (NYSE: AJG) announced the acquisition of The Merriam Agency, a full-service insurance agency based in upstate New York and Colorado Springs, Colorado, with a focus on nonprofit clients.
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Rhea-AI Summary
Arthur J. Gallagher (NYSE: AJG) announced the acquisition of The Merriam Agency, a full-service insurance agency based in upstate New York and Colorado Springs, Colorado, with a focus on nonprofit clients. Founded in 1895, The Merriam Agency brings 125 years of experience and valuable relationships, enhancing Gallagher's expertise in this market. Brian Merriam and his team will report to Patrick Kennedy, head of Gallagher's Northeast operations. This strategic move aims to expand Gallagher's capabilities and strengthen its position in the insurance sector.
Positive
- Acquisition strengthens Gallagher's position in the nonprofit insurance market.
- The Merriam Agency brings 125 years of industry experience and relationships.
- Expansion of service capabilities in commercial and personal lines.
Negative
- None.
Details
News Market Reaction – AJG
The recorded move for AJG in the trading session of this news was -0.10%.
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ROLLING MEADOWS, Ill., Sept. 21, 2020 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Charles W. Merriam & Son, Inc., dba The Merriam Agency. Terms of the transaction were not disclosed.
Founded in 1895, The Merriam Agency is a full-service insurance agency with offices in upstate N.Y. (including Schenectady) and Colorado Springs, Colo. The team offers a full range of commercial, personal lines and employee benefits coverages and services, and specializes in serving nonprofit and social service clients across the United States. Brian Merriam and his team will operate under the direction of Patrick Kennedy, head of Gallagher's Northeast region retail property/casualty brokerage operations.
"The Merriam Agency has been serving the nonprofit community for 125 years! Their deep expertise and long-standing relationships in that market will complement and expand Gallagher's existing strengths," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "We are very pleased to welcome Brian and his associates to our growing, global team."
Arthur J. Gallagher & Co., 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.
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