WASHINGTON (dpa-AFX) - Arthur J. Gallagher & Co. (AJG) an Illinois-based global insurance brokerage, risk management, and consulting firm, Monday has acquired El Paso-based Litchfield Special Risks, Inc. - LSR through its U.S. wholesale brokerage division, Risk Placement Services, Inc. - RPS.
The terms of the deal were not disclosed.
LSR, a wholesale insurance broker and managing general agency or MGA, specializes in transportation and property/casualty solutions for retail agents in Texas and the Southwest. Bill Brenton and his team will continue operating from their current location under the leadership of Ash Thomas, VP-Western Region for RPS.
J. Patrick Gallagher, Jr., Chairman and CEO, noted that LSR's strong market presence and expertise in transportation will enhance RPS's capabilities in Texas.
AJG is currently trading at $337.24 or 1.64% higher on the NYSE.
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