WASHINGTON (dpa-AFX) - Arthur J. Gallagher & Co. (AJG) Monday announced that it has acquired New Zealand-based RMA General Limited along with its associated insurance broking businesses. The financial details of the transaction were not disclosed.
RMA offers commercial and personal insurance, as well as customized life and health solutions to clients across New Zealand. Following the acquisition, Josh Adams and his team will continue operations under Carl O'Shea, who leads Gallagher's retail brokerage business in the country.
The acquisition strengthens Gallagher's presence in New Zealand, aligning with its commitment to client-focused services. Chairman and CEO J. Patrick Gallagher, Jr. emphasized RMA's shared values and the enhanced brokerage capabilities it brings, welcoming Adams and his team to Gallagher's expanding global network.
Monday, AJG closed at $341.80, up 1.20%, and is currently trading at $344.00, gaining 0.64%, on the NYSE.
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