AJG Acquires N.E. Life Broker
NU Online News Service, Oct. 2, 2:54 p.m. EDT?Itasca, Ill.-based insurance broker Arthur J. Gallagher & Co. has acquired Life Plans of New England Inc. of East Hartford, Conn.
Founded in 1988, Life Plans is a wholesale life insurance broker specializing in marketing individual life insurance, annuities and long term care products through independent brokers.
Malcolm DeBay, Michael Bartolotta and their associates will continue to operate in their current location under the direction of James Durkin, president of Gallagher Benefit Services Inc., a subsidiary of AJG.
J. Patrick Gallagher Jr., president and chief executive officer, said in a statement that the addition of the firm continues AJG's growth strategy to provide "the highest quality products and services for our clients" and "increases our position within the wholesale life products marketplace."
Terms of the transaction were not disclosed.
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