Illinois-based insurance brokerage Arthur J. Gallagher & Co. has completed the acquisition of First Premium Insurance Group, a Louisiana-based managing general agent and wholesale insurance broker.
Terms of the transaction remained undisclosed by the two companies.
First Premium Insurance Group, founded in 1973, provides insurance products for independent insurance agents and brokers throughout the Southern US with focus in manufactured homes, personal lines and commercial property/casualty business.
Arthur J. Gallagher chairman, president and CEO Patrick Gallagher said First Premium will be their first true wholesale/MGA presence in Louisiana which will enable them to expand their sales and services capabilities in the region.
According to the company Jay Pellegrini, Greg Pellegrini and their associates will continue operations from their existing location in Covington under the supervision of Arthur J. Gallagher & Co subsidiary Risk Placement Services president Joel Cavaness.
Arthur J. Gallagher & Co., headquartered in Itasca, Illinois, is an international insurance brokerage and risk management services firm and has operations in 17 countries.