Itasca, Ill.-based insurance broker Arthur J. Gallagher & Co. announced it has acquired retail insurance broker Fuller & O'Brien Inc. in Albany, N.Y. Transaction terms were not released.
The company said its new acquisition provides commercial property-casualty, workers' compensation, surety bonding, and risk management services primarily in the Northeast and specializes in construction and related industries such as architectural, engineering, legal and accounting firms as well as construction equipment dealers and materials suppliers.
Fuller & O'Brien commenced business in 1923. Thomas Tyrrell, the principal of Fuller & O'Brien, and his 24 associates will continue to operate at their current location under the direction of Douglas Brown, Northeastern Regional Manager of Gallagher's retail p-c brokerage operation.
The firm also announced today that it has acquired a 40 percent equity interest in Specialized Broking Associates Pty Ltd., headquartered in Perth, Australia.
Specialized Broking was founded in 2003. It is a retail insurance broker offering risk management and commercial p-c insurance services to Australian and international clients. The firm specializes in the energy, construction and mining industries and the corporate sector.
(This story was updated at 2:09 p.m.)
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