Arthur J Gallagher & Co (AJG) has completed the acquisition of two insurance brokerage businesses, namely Minvielle & Chastanet Insurance Brokers and Cowles & Connell, as part of its ongoing expansion strategy.
AJG, an Illinois-based insurance brokerage and risk management services firm, said that Minvielle & Chastanet Insurance Brokers (MCIB), which is located in the eastern Caribbean, operates as a full service insurance broker and risk management firm.
MCIB offers various types of property, casualty, health, risk management and reinsurance services to its clients throughout the eastern Caribbean.
Roddy Clarke and associates will spearhead this business from its current locations in St Lucia, Barbados, Dominica, St. Vincent and Antigua under the leadership of Matthew Pragnell, head of CGM Gallagher Group based in Kingston, Jamaica.
AJG chairman, president and CEO J. Patrick Gallagher, Jr., said: "MCIB is well-regarded within the industry for its quality client service and strong culture.
"They will provide additional scale to our existing operations and will also expand our presence into Antigua and Dominica."
Managing general agent and wholesale insurance broker, Cowles & Connell is based in Brewster, New York and Meriden, Connecticut. The company delivers excess and surplus, property/casualty, professional business liability and other specialty insurance products and services to their independent retail insurance broker clients across the US.
Under the terms of the transaction, Jo Ann Peri and her associates will continue to operate from their locations in Brewster; Meriden; Westampton, New Jersey and Wilbraham, Massachusetts under the direction of Joel Cavaness, president of Risk Placement Services, a subsidiary of AJG.
J. Patrick Gallagher, Jr., said: "Not only do they add to our wholesale geographic footprint, but their talented sales culture brings with it years of specialty product knowledge which enables them to handle and match hard to place risks with the appropriate markets."
Image: Arthur J Gallagher & Co corporate headquarters in Itasca, Illinois. Photo: courtesy of Arthur J. Gallagher & Co. 1999 -2014.