Arthur J Gallagher & Co, an Illinois-based insurance brokerage and risk management services firm, has purchased California-based retail insurance broker firm G S Levine Insurance Services.
Financial terms of the transaction have not been disclosed by the parties.
Founded 1987, G S Levine offers an array of property/casualty, employee benefits and risk management insurance services across the Western US.
The company specializes in offering coverage for the real estate, healthcare, food processing, manufacturing, technology and financial services industries.
Post-transaction, Gary Levine, Ross Afsahi and their associates will continue to work from their current San Diego location under the direction of James McFarlane, leader of Gallagher’s western retail property/casualty brokerage operations, and Norbert Chung, leader of Gallagher’s western employee benefits brokerage and consulting operations.
Arthur J Gallagher & Co chairman, president and CEO Patrick Gallagher, Jr., said that G S Levine is well known in the industry for its strong client commitment, solid carrier relationships and technical expertise.
"Their client-focused culture, solid San Diego presence and depth of experience will be an excellent complement to our Western Region brokerage operations, and we are extremely pleased to welcome Gary, Ross and their colleagues to our growing Gallagher family of professionals," Gallagher added.
The latest acquisition follows acquisition of RJ Dutton of Overland Park, Kansas, a provider of employee benefit consultation and brokerage services across the country, in early October this year.
In September, Arthur signed three acquisition contracts, including with London-based Giles Group of Companies, New York’s fine arts broker team of Jeffrey Haber and Michael Fischman, and Belmont International, an England-based risk management advisor and insurance broker.
Arthur manages operations in 20 countries and offers client-service capabilities through a network of correspondent brokers and consultants in more than 140 nations, globally.