Arthur J Gallagher & Co (AJG), an American insurance brokerage and risk management services company, has acquired Texas-based insurance broker Barmore Insurance Agency, as part of its ongoing strategy to expand its reach in the region.
Financial terms of the transaction have not been disclosed.
Established in 1952, Barmore Insurance Agency offers retail and wholesale commercial property/casualty, employee benefits and risk management insurance products and services for its middle-market clients across the south central US.
The acquired business specializes in construction, engineering, industrial, non-profits and public entity coverage.
Under the terms of the agreement, Mike Barmore, Bill Barmore and their associates will continue to operate at their current location under the leadership of Mike Henthorn, head of Gallagher’s South Central retail property/casualty brokerage operations.
Arthur J Gallagher chairman, president and CEO J Patrick Gallagher said Barmore has an outstanding reputation for their team’s depth of expertise, solid market relationships, and focus on quality client service which makes them a great cultural match for the company.
"Their emphasis on the middle-market and niche specializations will be an excellent complement to our South Central operations," Patrick Gallagher added.
The deal follows the recent acquisition of Norway-based retail insurance broker Bergvall Marine, and acquisition of Boston-based employee benefits agency Longfellow Financial.
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.
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Image: Arthur J Gallagher purchases Barmore Insurance Agency. Photo courtesy of adamr/FreeDigitalPhotos.net.