Arthur J Gallagher & Co (AJG) has purchased Kent, Kent & Tingle (KK&T) in Shreveport, Louisiana, a retail insurance broker providing employee benefits, property/casualty and risk management insurance services.
Financial terms of the transaction have not been disclosed by any parties.
Formed in 1989, KK&T provides group health, welfare and wellness plans, employee benefits consulting services, commercial property/casualty insurance coverage and risk management consulting services across the southern US.
The acquired business specializes in the oil & gas, construction, manufacturing, distribution and medical industries.
Fred Kent and his colleagues will now operate under the leadership of John Neumaier, head of Gallagher South Central employee benefit consulting and brokerage operations and Mitchel Brashier, head of Gallagher Southeastern property/casualty brokerage operations.
Commenting on the acquisition, Arthur J Gallagher & Co chairman, president and CEO J. Patrick Gallagher, Jr., said that KK&T has developed an outstanding reputation for their solid market relationships and their focus on high-quality client service.
"Their specializations and Northern Louisiana presence will be a terrific complement to our employee benefits and property/casualty brokerage operations," Gallagher, Jr., added.
The latest deal follows Arthur J Gallagher’s acquisition of Benefit Development Group (BDG) of Selma, Alabama, an employee benefit consultation, management and brokerage services provider.
In December 2013, Arthur J Gallagher completed two acquisitions including Cleaveland Insurance Group (CIG) and New Jersey-based McIntyre Risk Management.
Arthur J Gallagher & Co operates in 24 nations and offers client-service capabilities in more than 140 countries globally, leveraging a network of correspondent brokers and consultants.
————————————————————————————————————————————————————————————————Image: Arthur J Gallagher & Co corporate headquarters in Itasca, Illinois. Photo courtesy of: Arthur J. Gallagher & Co. 1999 -2014.