Arthur J. Gallagher Acquires Three Agencies
By Michael Ha
NU Online News Service, Feb. 10, 2:33 p.m. EST?Insurance broker Arthur J. Gallagher & Co. announced the acquisition of three insurance agencies.
Gallagher, based in Itasca, Ill., said its trio of new companies are W. E. Kingsley Company Inc., Lexington, Ky., as well as McRory & Company and Harman & McRory Company, both headquartered in Seattle.
Kingsley Company was established in 1944 and provides wholesale insurance services to several hundred retail insurance brokers in Kentucky, Tennessee, Ohio and Indiana.
As a result of the transaction, the Kingsley staff, as well as Ronald Smedley, president of the company, will join Equity Insurance Managers, Gallagher’s existing Lexington wholesale operations.
McRory & Company, founded in 1973, and Harman & McRory Company, established in 1990, are full-service retail insurance agencies, specializing in risk management and commercial p-c insurance services in the Northwest. Executives and staff members at both companies will join Gallagher’s current Seattle operations.
In aggregate, these three companies represent less than $10 million in annual revenues, according to a spokesperson for Arthur J. Gallagher.
The transaction is part of the company’s ongoing acquisition strategy. “Last December, we acquired Encore Insurance and Bonding. And in November, we announced the acquisition of Grandy Pratt Company,” the spokesperson said.