Global firm acquires insurance brokerage
A global provider of insurance, risk management and consulting services has acquired a firm in the region.
Rolling Meadows, Illinois-based Arthur J. Gallagher & Co. said yesterday it acquired Kalamazoo-based First Agency.
Terms of the deal were not disclosed.
Bryan Cronen, former president of First Agency, and his associates will continue to operate from their current location under the direction of Cindy LaMantia, head of Gallagher’s Great Lakes region retail property and casualty brokerage operations.
“First Agency deepens our student accident and special risk expertise in the greater Midwest and provides exclusive products, underwriting and accident claims expertise to our K-12 and higher education clients,” said J. Patrick Gallagher Jr., president, chair and CEO, Arthur J. Gallagher & Co.
“We are very pleased to welcome Bryan and his team to Gallagher.”
Founded in 1959, First Agency is a broker and managing general agency specializing in offering blanket student and athletic accident insurance coverage, including sports camps and special risk insurance, to colleges and K-12 schools.
It also provides claims administration and policy issuance for several insurers and sells specialty coverages directly to individual students via its website.
Arthur J. Gallagher & Co.
Founded in 1927, Arthur J. Gallagher & Co. (NYSE: AJG) operates in 35 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.