US-based Arthur J Gallagher is continuing its acquisition spree with the purchase of Rosenzweig Insurance Agency for an undisclosed sum.
Based in New York, the acquired company is a full-service insurance intermediary, with expertise in the pharmacy sector.
Rosenzweig Insurance Agency serves a wide range of clients across the US, including individuals and small and medium-sized enterprises.
As per the deal, president Larry Rosenzweig, vice-president Lynn Rosenzweig Derby, and the rest of the Rosenzweig Insurance Agency team will continue to operate from their present location as part of Gallagher Agency Alliance.
Launched recently, Gallagher Agency Alliance is a merger and acquisition model focused on agencies engaged in offering employee benefits and property/casualty insurance for small businesses.
Rosenzweig Insurance Agency’s team will operate under Gallagher’s global small business practice managing director Jen Tadin.
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Arthur J Gallagher chairman, president and CEO J Patrick Gallagher, Jr said: “Rosenzweig Insurance Agency has a long history of client-focused service and will enhance our capabilities in the small business space. I am delighted to welcome Larry, Lynn and their associates to Gallagher.”
Last week, Gallagher, which offers insurance broking, risk management and consulting services, acquired two insurance brokers, namely Clements Worldwide and Meadowbrook Insurance Agency.
Clements offers products and services to military personnel, diplomats, and foreign nationals in addition to business solutions for contractors, non-profit organisations, embassies, and educational institutions.
Clements has offices in Washington, London, Dublin, Gibraltar and Dubai.
Retail insurance broker Meadowbrook Insurance Agency serves clients in Michigan and Florida with a wide range of property/casualty and group benefits services.
Last month, Gallagher reached an agreement to acquire Eastern Bank subsidiary Eastern Insurance Group for $510m.