Itasca, Ill.-based insurance broker Arthur J. Gallagher & Co. said it has acquired The Treiber Group LLC and Treiber Agency Group LLC, both located in Garden City, N.Y. Terms of the deal were not released.
Gallagher said The Treiber Group is a retail insurance broker, with roots going back to 1899, that offers risk management, commercial and personal property-casualty, life and health insurance services to its clients in the New York tri-state area.
The firm has specialties in construction, surety, health care, executive risk and workers' compensation insurance coverages.
Treiber Agency Group is a wholesale insurance broker offering excess and surplus property-casualty coverage and other specialty insurance products and services to its independent retail agency clients throughout the Northeast.
The acquired firm and its 160 employees will continue to operate in its current Long Island, N.Y., location under the direction of H. Craig Treiber, chairman and CEO, and its principals, Peter Treiber, John Treiber, Scott Treiber, John Paterno and Lou Roca.
The retail operation will report through Douglas Brown, Northeastern regional manager of Gallagher's retail p-c brokerage operation. The wholesale operation will report through Joel Cavaness, president of Risk Placement Services Inc., Gallagher's wholesale insurance operation.
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