Arthur J Gallagher & Co has introduced the acquisition of Washington, Iowa-based Horak Insurance coverage.
Phrases of the deal between Horak and Arthur J Gallagher weren’t disclosed.
Horak is a retail property and casualty insurance coverage company serving commerical and private strains shoppers. As well as, it presents insurance policies to farms.
Paul Horak, Luke Horak and their crew will stay of their present areas below the management of Ryan Isaacs, head of Gallagher’s Midwest area retail P&C brokerage operations.
“Horak Insurance coverage has a long-standing repute within the communities they serve and supplies important development alternatives for our enterprise in Iowa,” mentioned J. Patrick Gallagher, Jr., chairman and CEO. “I’m delighted to welcome Paul, Luke and their associates to Gallagher.”
The insurer has made a variety of offers already this 12 months.
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It expanded its presence within the US with the acquisition of The Rowley Company.
Based mostly in Harmony, New Hampshire, the Rowley Company is a retail insurance coverage dealer identified for its property/casualty, surety, in addition to worker advantages product choices.
The corporate, which was established in 1966, caters to each business and private strains shoppers, primarily throughout the New Hampshire, Maine, Vermont, and Massachusetts areas within the US.
The most recent transaction will permit Arthur J Gallagher & Co to bolster its portfolio throughout all of the 4 key markets within the northeastern US.
Additionally, Gallagher Re purchased Toronto-based firm MGB, bolstering its reinsurance options for the medical sector.
Monetary particulars of the deal weren’t revealed.
MGB presents reinsurance options to well being upkeep organisations (HMOs), managing common underwriters (MGUs) and insurance coverage firms.
