American insurance brokerage firm Arthur J. Gallagher & Co has purchased Pittsburgh-based Allied Insurance Brokers and its subsidiary Ascinsure Specialty Risk.
Allied Insurance Brokers, which was established in 1982, provides insurance and risk management services to crane, scaffold and equipment dealers across the US.
As per the terms of the transaction, Marty O’Brien, Richard Whitlock, Jared Clough and their associates will remain working from their existing offices.
They will work under the supervision of Gallagher head of Mid-Atlantic retail property/casualty brokerage operations Dan Tropp and Risk Placement Services head Chris Leisz.
Commenting on the deal, Arthur J. Gallagher & Co chairman, president and CEO J. Patrick Gallagher, Jr., said: “Allied Insurance Brokers and Ascinsure Specialty Risk bring us outstanding niche expertise, a strong new business focus, innovative loss control services and a commitment to client advocacy.”
Tropp said: “As recognised leaders in the crane and scaffold space, Allied is a natural addition to our construction practice capabilities.
“Their sales culture and consultative approach fit perfectly with our Core360 approach to evaluating and minimizing our clients’ total cost of risk.”
Concurrently, Arthur J. Gallagher announced the takeover of Andrew Insurance Associates, an Ohio-based full-service insurance agency.
Established in 1969, Andrew Insurance serves clients in schools, hotels and grocery store segments.
In August, Gallagher Bassett International, a risk management services subsidiary of Arthur J. Gallagher & Co, acquired Adjusting Associates in the UK.
Headquartered in Illinois, US, Arthur J. Gallagher & Co manages operations in 35 countries and provides client service capabilities in more than 150 countries worldwide.