AJG Buys NYC Broker
NU Online News Service, July 2, 12:38 p.m. EDT?Insurance broker Arthur J. Gallagher & Co., Itasca, Ill., announced the acquisition of J. A. Lorenzo & Co. of New York City.
Founded in 1985, J. A. Lorenzo & Company is a full-service retail insurance broker offering risk management, marine cargo, commercial property-casualty, trade credit and political risk insurance services to a diverse client base.
AJG said the firm also specializes in insurance products for the steel industry. While their clients are located primarily in the Northeast, they service companies throughout the United States as well.
Joseph A. Lorenzo and his staff will continue to operate in their downtown Manhattan location under the direction of John Stancik, Northeast Regional Manager of Gallagher's Brokerage Services Division.
Terms of the transaction were not disclosed.
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