AJG Acquires Continental Excess & Herbruck, Alder

Itasca, Ill.-based insurance broker Arthur J. Gallagher & Co. said it has acquired a New Jersey-based wholesale firm and an employee benefit firm in Ohio.

Financial terms of the acquisitions were not released.

In New Jersey, AJG said it has acquired Continental Excess & Surplus, trading as Continental/Marmorstein & Malone, located in Paramus, N.J., and its affiliate, All Risk/CESI, LLC, located in New York City.

With roots dating back to 1957, these agencies are wholesale insurance brokers and managing general agents providing excess and surplus lines insurance products for independent insurance agents and brokers throughout the Northeastern United States.

Principals Sue Bishop-Mischler, William H. Malone Jr. and their associates at Continental/Marmorstein & Malone will operate as Risk Placement Services-CM&M. Maya Cruz, a principal, and her associates at All Risk/CESI, LLC, will operate as Risk Placement Services-CESI. Both offices will operate under the direction of Joel Cavaness, president of Risk Placement Services Inc., a subsidiary of AJG. The two firms combined have about 30 employees.

AJG also said it acquired Herbruck, Alder & Co. in Cleveland, Ohio. Founded in 1962, Herbruck, Alder provides employee benefit consultation and brokerage services for their Midwest clients. The firm specializes in group benefits, retirement planning, human resource consulting and executive benefits with an emphasis on planning analysis and design, cost benefit analysis, compliance, implementation, and communication and education.

Mark Alder, the principal, and his associates of approximately 50 employees, will continue to operate at their current location under the direction of William Ziebell, North Central regional executive vice president of Gallagher's employee benefit consulting and brokerage operations.

This story was updated at 4:00 p.m. EST