Insurance brokerage firm Arthur J. Gallagher has acquired US-based wholesale insurance company Abram Interstate Insurance Services for an undisclosed amount.
Image: Arthur J. Gallagher announced acquisition of Abram Interstate Insurance Services. Photo: Courtesy of Adam Radosavljevic from Pixabay.
Abram Interstate Insurance Services is a property/casualty managing general agency that offers a full range of commercial, agri-business and personal insurance products for retail agents and their customers across California.
Established in 1996, Abram Interstate Insurance Services started operations in Rocklin, California selling Equine and Mobile Home insurance products.
Following the acquisition, Ron Abram and his associates are remained in their current location under the direction of Joel Cavaness, president of Risk Placement Services, a subsidiary of Arthur J. Gallagher.
Arthur J. Gallagher chairman, president and CEO J. Patrick Gallagher Jr said: “Ron Abram and his team are highly regarded in the industry, and offer RPS a complementary product mix and attractive new location. I am delighted to welcome Ron and his associates to our growing Gallagher family of professionals.”
Earlier in June 2019, Arthur J. Gallagher has acquired MDV Wealth Planning, a US-based life insurance products seller, from Fox River Grove for an undisclosed amount.
The firm, established in 2014, sells and places life insurance products for clients of registered investment advisors (RIAs), independent financial advisors, institutional brokers, life insurance professionals, and property/casualty agents and brokers.
Arthur J. Gallagher said that Thomas Vilardo and his associates are allowed to work from their current location under the direction of National Financial and Retirement Services practice leader Jeff Leonard.
In May 2019, the insurance brokerage firm acquired Verbag Versicherungsberatungs, a Swiss brokerage firm, providing commercial lines, employees benefits, accident and health and high-net-worth personal lines brokerage and consulting services. The Swiss brokerage firm earns revenues of about $2m (£1.6m).
Verbag Versicherungsberatungs is being acquired by Hesse & Partner, a subsidiary of Gallagher based in Switzerland.
Based in Rolling Meadows, Illinois, Arthur J. Gallagher is an insurance brokerage and risk management services firm operating in 35 countries and offers client service capabilities in more than 150 countries around the world.