US-based insurance brokerage and risk management services firm Arthur J. Gallagher & Co. (AJG) has acquired New Jersey's O'Gorman & Young (OGY) and its affiliate G. R. Murray Insurance.
Terms of the transaction have not been disclosed.
Arthur J. Gallagher & Co. chairman, president and CEO J. Patrick Gallagher, Jr., said: "With its highly-regarded depth of experience, service-based culture and niche specializations, OGY will be a great complement to our existing capabilities.
"Their New Jersey footprint and strong carrier relationships will help expand our presence on the East Coast. We are extremely pleased to welcome Jay and the OGY Team to our growing Gallagher family of professionals."
Established in 1894, OGY is a retail insurance broker that offers commercial property/casualty, employee benefits, risk management consulting and personal lines insurance services to clients in the Eastern US.
The company is specialized in providing insurance services for public and private schools, contractors, municipalities, lawyers and financial and nonprofit institutions.
Under the leadership of Gallagher’s Eastern region retail property/casualty brokerage operation head Douglas Brown, OGY’s Ernest Jay Lawton and his team will continue to operate in their Chatham and Princeton locations.
With operations in around 30 countries, AJG provides client-service capabilities in about 140 countries across the globe through a network of correspondent brokers and consultants.
Image: Arthur J. Gallagher & Co has acquired New Jersey-based retail insurance broker O’Gorman & Young. Photo: courtesy of Supertrooper/ FreeDigitalPhotos.net.