US-based insurance brokerage and risk management services firm Arthur J. Gallagher & Co. (AJG) has bought New York-based Hagedorn & Company, for an undisclosed amount.
Established in 1869, Hagedorn is a retail insurance broker, which offers property/casualty, risk management, group benefits and personal lines insurance products and services for commercial and individual clients in the northeastern US.
The company provides insurance coverage for the financial, manufacturing, real estate, healthcare, legal and marine industries, in addition to nonprofit organizations, schools and municipalities.
As part of the deal, Daniel Gabel and his team will continue to work in New York City and White Plains, under the leadership of Gallagher’s northeastern retail property/casualty brokerage operations head Douglas Brown.
Arthur J. Gallagher & Co. president and CEO J. Patrick Gallagher, Jr., said: "For nearly 150 years, Hagedorn has developed an excellent reputation for delivering the highest quality, cost effective insurance solutions to their customers.
"With their depth of expertise, solid market relationships and emphasis on niche specializations, they will be an excellent addition to our Northeastern operations. We are extremely pleased to welcome Dan and his colleagues to our growing Gallagher family of professionals."
Most recently, the company acquired Australia-based Parmia and Connecticut-based Everett James.
Founded in 2002, Parmia is an insurance broker and risk management services company that offers property/casualty insurance solutions for the professional association and industry group clients in Australia.
Everett James was founded in 1990 and offers employee benefits consulting and brokerage services primarily for their large and middle-market clients in the Northeast.
Image: Arthur J Gallagher & Co corporate headquarters in Itasca, Illinois. Photo: courtesy of Arthur J. Gallagher & Co. 1999 -2014.