Illinois-based insurance brokerage Arthur J. Gallagher & Co. has acquired Riley & Associates, a South Carolina-based retail insurance broker.

Riley & Associates, established in 1936, provides property/casualty insurance and risk management services to their commercial and personal lines clients primarily in the southeastern US.

The company specializes in insurance coverage for the hospitality, moving and storage, transportation and marine industries.

As part of the acquisition, Riley & Associates executive Russell Parker and his associates will continue to operate in Mt. Pleasant under the direction of Mitchel Brashier, Southeastern regional manager of Gallagher’s retail property/casualty brokerage operation.

Arthur J. Gallagher & Co. chairman, president and CEO Patrick Gallagher said that Riley & Associates’ industry expertise and geographic presence in the Charleston area will be an excellent complement to our Southeastern Region’s retail brokerage operation.

Financial terms of the transaction were not disclosed.