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Arthur J. Gallagher (AJG) Buys Ahrold Fay Rosenberg In Des Moines, Iowa

 December 26, 2012 03:59 PM

(By Balaseshan) Arthur J. Gallagher & Co. (NYSE: AJG), which provides insurance brokerage and third-party claims settlement, said it has purchased Ahrold Fay Rosenberg in Des Moines, Iowa for an undisclosed sum.

Ahrold Fay Rosenberg (AFR) is a retail insurance broker providing retail property/casualty, employee benefits and risk management insurance services as well as human resources and loss control services for their commercial clients throughout the Midwestern U.S. They specialize in the non-farm agricultural and construction industries.

John Ahrold, John Fay, Brook Rosenberg and their team will continue to operate in their current Des Moines location under the direction of Thomas Gallagher, head of Gallagher's Midwest retail property/casualty brokerage operations.

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

On December 13, the company said it has acquired a 21.3% interest in Casanueva Perez S.A.P. de C.V. (Grupo CP), headquartered in Mexico City, Mexico for an undisclosed sum. Grupo CP is an insurance broker and risk management company.

On December 12, Arthur J. Gallagher said it has purchased Western Benefit Solutions, LLC headquartered in Boise, Idaho for undisclosed terms. Founded in 1997, Western Benefit Solutions, LLC (WBS) provides a wide range of employee benefit insurance brokerage and consultation services.

On December 11, the company announced the acquisition of Charter Lakes Marine Insurance Agency, headquartered in Grand Rapids, Michigan for an undisclosed sum. Founded in 1986, Charter Lakes operates as a retail property/casualty insurance broker, program administrator and managing general agency specializing exclusively in commercial and personal marine insurance products and services.

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

On December 4, Arthur J. Gallagher said it has bought Brendis & Brendis Inc. located in Omaha, Nebraska for undisclosed terms. Founded in 1989, Brendis & Brendis provides a wide range of employee benefit program consulting services for their employer group clients throughout the Midwest.

AJG is trading down 0.06% at $34.98 on Wednesday. The stock has been trading between $32.01 and $38.24 for the past 52 weeks.

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