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Arthur J. Gallagher (AJG) Buys Broker Benefit Services

 June 08, 2012 12:30 PM
 


(By Balaseshan) Arthur J. Gallagher & Co. (NYSE:AJG), which provides insurance brokerage and risk management services, is expanding its employee benefit consulting and brokerage operations with the acquisition of Broker Benefit Services, L.L.C. in Chesterfield, Missouri for an undisclosed term.

Broker Benefit Services, which was founded in 2001, offers employee benefit brokerage and consulting services for their clients throughout the Midwest. They specialize in group health and welfare, executive benefits and wellness plans with an emphasis on planning, design, implementation and cost containment for group businesses.

[Related -Arthur J. Gallagher & Co. (AJG): A Strong Organic Growth Story]

Corey Durbin, John Byrne and their associates will continue to operate in their current location under the direction of William Ziebell, North Central Regional Executive Vice President of Gallagher's employee benefit consulting and brokerage operations.

Recently, this week, Arthur J. Gallagher also announced the acquisition of Grossman & Associates, Inc. in Beachwood, Ohio for an undisclosed sum. Grossman & Associates, which was founded in 1980, is an employee benefits broker and consultant that offers group health, welfare and wellness plans for their clients primarily in Ohio.

Grossman & Associates specialize in educational institutions and consortia, public entities, non-profit organizations and professional service firms.

Ned Grossman and his colleagues will continue to operate in their current location under the direction of William Ziebell, North Central Regional Executive Vice President of Gallagher's employee benefit consulting and brokerage operations.

[Related -Stock Upgrades And Downgrades: ADBE, AJG, BBRY, BLL, CLF, RYN, S, UNFI]

AJG is trading down 0.83% at $34.53 on Friday. The stock has been trading between $24.29 and $38.24 for the past 52 weeks.

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