Arthur J. Gallagher & Co. Acquires Viking Bond Service, Inc.

Arthur J. Gallagher & Co. has announced the acquisition of Viking Bond Service, Inc., a surety bond agency based in Phoenix, Arizona, specializing in commercial, contract, and fidelity bonds.

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Rhea-AI Summary

Arthur J. Gallagher & Co. has announced the acquisition of Viking Bond Service, Inc., a surety bond agency based in Phoenix, Arizona, specializing in commercial, contract, and fidelity bonds. The terms of the transaction remain undisclosed. Founded in 2002, Viking Bond Service enhances Gallagher's surety offerings, supporting its expansion in the market. Tom Buckner and Bill Belpedio will continue their roles under Kevin Garvin, head of Affinity North America. Gallagher operates in about 130 countries and is publicly traded on the NYSE under the symbol AJG.

Positive

Acquisition of Viking Bond Service enhances Gallagher's surety offerings and expertise in the market.
Viking Bond Service's established presence strengthens Gallagher's position in the bonded insurance sector.

Negative

None.

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News Market Reaction – AJG

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03/21/2023 - 09:00 AM EDT

ROLLING MEADOWS, Ill., March 21, 2023 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Phoenix, Arizona-based Viking Bond Service, Inc. Terms of the transaction were not disclosed.

Founded in 2002, Viking Bond Service is a surety bond agency specializing in commercial, contract and fidelity bonds for clients across the United States. Tom Buckner, Bill Belpedio and their team will operate under the direction of Kevin Garvin, head of Affinity North America for Gallagher's retail property/casualty brokerage operations.

"Viking Bond Service complements our existing surety offerings and deepens our expertise in this market," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am very pleased to welcome Tom, Bill and their 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