Arthur J. Gallagher & Co., a US-based insurance brokerage and risk management services firm, has completed acquisition of Iowa-based retail insurance broker, Ahrold Fay Rosenberg (AFR).

Terms and conditions of the transaction have not been disclosed.

AFR’s staff will continue operations from its existing Moines location under the leadership of Arthur J. Gallagher Midwest retail property/casualty brokerage operations head Thomas Gallagher.

Chairman, president and CEO J Patrick Gallagher, Jr said AFR’s strong focus on team-based client service will serve as an excellent complement to the company’s sales culture.

"Their location will also be a significant addition to our current presence in Iowa, and their specializations will be a terrific fit with our niche expertise in the Midwest,” Gallagher added.

AFR is a provider of retail property/casualty, employee benefits and risk management insurance services, as well as human resources and loss control services for commercial customers across the Midwestern US.

Headquartered in Illinois, Arthur J Gallagher & Co trades in 17 nations, and offers client service capabilities in more than 110 geographies across the globe through a network of correspondent brokers and consultants.