Arthur J Gallagher & Co has acquired insurance agencies Continental Excess & Surplus, trading as Continental/Marmorstein & Malone( CM&M), located in New Jersey and its affiliate, All Risk/CESI, located in New York City.
Arthur said that these agencies are wholesale insurance brokers and managing general agents providing excess and surplus lines insurance products for independent insurance agents and brokers throughout the Northeastern US.
Sue Bishop-Mischler, William Malone and their associates at Continental/Marmorstein & Malone will operate as risk placement services-CM&M. Maya Cruz and her associates at All Risk/CESI, will operate as risk placement services-CESI.
Both offices will continue to operate under the direction of Joel Cavaness, president of Risk Placement Services, a subsidiary of Arthur J Gallagher & Co.
Arthur J Gallagher & Co chairman, president and CEO Patrick Gallagher said this acquisition enables to increase both wholesale/MGA sales and service capabilities and the presence on the East Coast.
Terms of the transaction were not disclosed.