Arthur J. Gallagher & Co announced the acquisition of Joseph Distel & Co in Farmington, Connecticut.
Terms of the transaction were not disclosed.
Founded in 1955, Joseph Distel & Co., Inc. (Distel) is a managing general agent and wholesale insurance broker which provides excess and surplus, property/casualty, professional business liability and other specialty insurance products and services to their independent insurance agent and broker clients throughout the Northeast.
They specialize in insurance coverage for the transportation industry. Ken Distel and his associates will continue to operate from their location in Farmington under the direction of Joel Cavaness, President of Risk Placement Services, Inc., a subsidiary of Arthur J. Gallagher & Co.
"The Distel team is well known for their depth of experience and dedication to client service. Not only do they add to our wholesale geographic footprint, but their talented sales culture brings over 60 years of specialty product knowledge which enables them to handle and match hard to place risks with the appropriate market," said J. Patrick Gallagher, Jr., President and CEO.
"Their expertise will be a wonderful complement to our expanding wholesale network, and we are extremely pleased to welcome Ken and his colleagues to our growing Risk Placement Services’ family of professionals."
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 31 countries and offers client-service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.