Arthur J Gallagher, an insurance brokerage and risk management services firm based in Illinois, has acquired Benefit Development Group (BDG) of Selma, Alabama, to further boost its presence in the region.
Financial terms of the transaction have not been disclosed by the parties.
Founded in 1986, Benefit Development Group offers employee benefit consultation, management and brokerage services for full and self-funded, middle-to-large group clients across the US.
The company concentrates on employee benefit compliance, design, financing, administration and communication.
Under the terms of the transaction, Holland Powell, David Cothran, Duncan Hope and their associates will continue to operate in their current location under the leadership of John Neumaier, leader of Gallagher’s south central employee benefit consulting and brokerage operations.
Commenting on the takeover, Arthur J Gallagher chairman, president and CEO J. Patrick Gallagher, Jr., said that BDG has solid market relationships, strong industry expertise, and dedication to quality client service.
"Their service-based culture is a natural fit and their central Alabama presence will be a great complement to our employee benefits operation," Gallagher added.
The latest deal follows two acquisitions by Arthur J. Gallagher in December 2013. The company purchased 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.