Banking & Finance and Small Business & Startups

Arthur J. Gallagher & Co. acquires Charter Lakes Marine Insurance

December 13, 2012
| By Pete Daly |
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Arthur J. Gallagher & Co. acquires Charter Lakes Marine Insurance
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Arthur J. Gallagher & Co., based outside of Chicago, has announced its acquisition of Charter Lakes Marine Insurance Agency at 3455 East Paris in Grand Rapids. Terms of the transaction were not disclosed.

Founded in 1986, Charter Lakes employs 35 around the nation and operates as a retail property/casualty insurance broker, program administrator and managing general agency, specializing in commercial and personal marine insurance and services. Charter Lakes is one of the largest insurers of yachts, boats and passenger vessels in the United States, serving clients from its offices in Michigan, Florida, Maryland, North Carolina and Texas.

Dan Longman and his associates at Charter Lakes will continue to operate from their current locations under the direction of Thomas J. Gallagher, head of Gallagher’s Midwest retail property/casualty brokerage operations.

“Charter Lakes is highly regarded throughout the marine industry for its personalized customer service capabilities, depth of expertise and solid market relationships,” said J. Patrick Gallagher Jr., chairman, president and CEO of Arthur J. Gallagher & Co. “Their team based sales culture, specialization and geographic presence will be a terrific addition to our marine operations.”

Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Ill. Gallagher has operations in 17 countries and offers client service in more than 110 countries around the world through a network of correspondent brokers and consultants

Ryan Isaacs, who leads the Gallagher offices in Grand Rapids and Detroit, said Gallagher is the fourth largest insurance brokerage in the world.

The firm’s main Michigan office is in Grand Rapids at 300 Ottawa Ave. NW.

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