US-based insurance brokerage and risk management services firm Arthur J. Gallagher & Co. (AJG) has acquired Illinois-based Bennett & Shade.
Established in 1906, Bennett & Shade is a retail insurance broker, offering commercial property / casualty, employee benefits, risk management consulting and personal lines insurance services to customers in the Midwest.
The terms of the sale were not disclosed.
Arthur J. Gallagher chairman, president and CEO J. Patrick Gallagher, Jr said: "Their (Bennett & Shade) Decatur footprint and strong carrier relationships will help expand our central Illinois presence.
"Bennett & Shade will be a terrific addition to our Midwest region, and we are extremely pleased to welcome Jeff and his team to our growing Gallagher family of professionals."
Jeffrey Shade and his associates will continue to work in Decatur, under the leadership of Gallagher’s Midwest region retail property / casualty brokerage operation head Michael Pesch.
In September, Arthur J. Gallagher purchased New York-based Hagedorn & Company, which is also a retail insurance broker, and Australia-based insurance broker and risk management services company Parmia.
Arthur J. Gallagher carries out operations in 30 countries, and provides client-service capabilities in around 140 countries across the globe.
Image: Arthur J Gallagher & Co corporate headquarters in Itasca, Illinois. Photo: courtesy of Arthur J. Gallagher & Co. 1999 -2014.