Itasca, Ill.-based insurance broker Arthur J. Gallagher &Co. said it has acquired Gale Smith & Company Inc. ofBrentwood, Tenn. Financial terms were not released.

The Gallagher firm said Gale Smith & Company, established in1868, is a retail insurance broker offering risk management,commercial property-casualty and accident-health insurance servicesto clients throughout the central and mid-southern UnitedStates.

Gale Smith specializes in the construction, transportation,religious and not-for-profit industries with a focus on largeraccounts.

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