A.J. Gallagher Donates $100K For Spencer Foundation Scholarships

NU Online News Service, Sept. 14, 3:05 p.m. EDT

Arthur J. Gallagher & Co. insurance brokerage announced it will donate $100,000 to the Spencer Educational Foundation Inc. to fund a "Robert E. Gallagher and John P. Gallagher Scholarship."

The announcement was made last week at the foundation's 30^th anniversary gala at the Waldorf-Astoria Hotel in New York. The initiative will provide funding for students of risk management disciplines.

"We are grateful for the tremendous generosity of Arthur J. Gallagher & Co. and know that its contribution will be instrumental in cultivating a dynamic next generation of risk and insurance talent," said Donna Galer, chairwoman of Spencer Educational Foundation Inc., in a statement.

"This scholarship will be a continuous reminder of the long history of support Arthur J. Gallagher & Co has given Spencer Educational Foundation. We thank Pat Gallagher and his team," added Ms. Galer.

Since its formation in 1979, Spencer Educational Foundation said it has awarded 454 student scholarships totaling $3.6 million and university grants totaling $1.3 million in the United States, Canada and the United Kingdom. The foundation will begin accepting scholarship applications for the 2010-2011 academic year in November 2009.

J. Patrick Gallagher Jr., chairman, president and chief executive officer of Arthur J. Gallagher & Co., was honored at the gala for his support of the foundation.

He told the gathering, "My father, John Gallagher, and my uncle, Bob Gallagher, were lifelong proponents of bringing talented young people into the insurance and risk management industries.

"They were committed to giving college students an opportunity to learn about our business, the many career paths it offers and how it impacts society as a whole. Through the Robert E. Gallagher and John P. Gallagher Scholarship program, Arthur J. Gallagher & Co. is helping to ensure that their legacy lives on."

Established in 1979 to honor the late Robert S. Spencer, the foundation is administered by its board of directors and is affiliated with the Risk and Insurance Management Society Inc. (RIMS) in New York.

The foundation stimulates, promotes and encourages promising undergraduate, graduate and doctoral students of risk management disciplines in fulfilling their educational goals by providing scholarship awards and educational grants. More information is online at www.spencered.org.