US-based insurance brokerage and risk management services firm Arthur J. Gallagher & Co. (AJG) has acquired California-based SGB-NIA Insurance Brokers.
Terms of the transaction have not been disclosed.
Arthur J. Gallagher & Co. chairman, president and CEO J. Patrick Gallagher, Jr., said: "SGB-NIA is highly-regarded for its professional standards, solid market relationships and focus on quality customer service and satisfaction.
"Their niche specialization, strong western presence and client-based culture will be an excellent addition to our West Coast operations. We look forward to working with Jim and his associates, and we welcome them to our growing Gallagher family of professionals."
Founded in 1964, SGB-NIA offers retail property/casualty, risk management and employee benefits insurance products and consulting services to commercial and individual clients in the western US.
The company is specialized in insurance coverage for the manufacturing, metal worker, retail hardware and commercial real estate industries.
Under the leadership of Gallagher’s Western Region retail property/casualty brokerage operations head James McFarlane, SGB-NIA’s James Scanlon and his team will continue to operate in their Woodland Hills and Camarillo, California locations.
Last week, AJG had acquired California-based Discovery Benefit Solutions, which provides mployee benefit consultation, management and brokerage services for group and individual clients in the western US.
With operations in around 30 countries, AJG offers client service capabilities in around 140 countries across the globe through a network of correspondent brokers and consultants.
Image: SGB-NIA provides retail property/casualty, risk management and employee benefits insurance products and consulting services. Photo: courtesy of Stuart Miles/ FreeDigitalPhotos.net.