Gallagher Acquires N.Y. MGA
NU Online News Service, Oct. 26, 1:56 p.m. EDT?Arthur J. Gallagher & Co., the Itaska, Ill.-based brokerage, said it has acquired I. Arthur Yanoff & Co., Ltd., a managing general agency and wholesale brokerage firm headquartered in Valley Stream, N.Y.[@@]
Terms of the transaction were not disclosed.
Incorporated in 1966, I. Arthur Yanoff & Co., Ltd. provides excess and surplus lines products for independent insurance agents and brokers throughout the U.S.
The Yanoff firm, with offices in five states and 85 employees, specializes in the underwriting and placement of commercial property, inland marine, commercial automobile, general liability, professional liability, umbrella/excess and personal lines coverages.
Thomas M. Mannion Jr., Glenn R. Yanoff, Ronald M. Yanoff (former executives at the Yanoff Co.) and their associates will continue to operate from their current locations, which include offices in Florida, Illinois, Georgia, New Jersey and New York City, under the direction of Joel Cavaness, president of Risk Placement Services Inc., a subsidiary of Gallagher.
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