NU Online News Service, Feb. 23, 3:43 p.m. EST
Itasca, Ill.-based insurance broker Arthur J. Gallagher says it is expanding its excess and surplus lines business into Louisiana with the acquisition of First Premium Insurance Group, Inc.
The Covington, La.-based managing general agency and wholesale broker was established in 1973. The firm provides insurance products for independent agents and brokers throughout theSouthern United States. First Premium Insurance specializes in manufactured homes, personal lines and commercial property and casualty business.
Jay Pellegrini Jr., Greg Pellegrini, the principals and their associates, numbering about 65 employees, will continue to operate from their current location. They will be under the direction of Joel Cavaness, president of Risk Placement Services, Inc., a subsidiary of AJG.
“First Premium will be our first true wholesale/MGA presence inLouisianawhich will enable us to expand our sales and services capabilities in that region,” notes J. Patrick Gallagher Jr., chairman, president and chief executive officer in a statement.
Two other insurance brokers announced acquisitions this week.
Briarcliff Manor, N.Y.-based USI Insurance Services says it acquired The Pinnacle Group based inVirginia Beach, Va.
A full-service benefits consulting firm specializing in middle-market business, USI says it is expected to contribute approximately $3.3 million in annual revenues to USI.
Steven C. Deal, USI’s mid-Atlantic regional CEO says in a statement that the transaction will strengthen its existing organizations in the region along with its expanding employee benefit practice.
Daytona Beach, Fla.-based insurance broker Brown & Brown says its subsidiary Brown & Brown of Connecticut, Inc. has acquired Kane Partners, Inc. of Mamaroneck, N.Y.
Founded in 2003, Kane Partners has combined annual revenue of $1.2 million, says Brown & Brown. The firm provides a wide range of employee benefits-related services including brokerage and consulting services to clients in the Northeastern United States and Florida.
Robert “Rob” F. Fitzpatrick, Fred V. Leone, the principals of Kane Partners and the staff will join Brown & Brown of Connecticut offices in Rocky Hill, Conn.
Terms of all three transactions were not released.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
