Arthur J Gallagher & Co, a US-based insurance brokerage and risk management services company, has acquired Boston-based employee benefits agency Longfellow Financial, as part of its strategy to expand its footprint in the region.
Financial terms of the transaction have not been disclosed.
Established in 1999 and operating as an employee benefits insurance broker, Longfellow Financial provides with various types of group employee benefit products and consulting services to their US and international clients.
As per the terms of the transaction, Joe Gray, Craig Cerretani, Phil LeBlanc and their colleagues will continue to operate in their current location under the leadership of David Ziegler, head of Gallagher’s eastern region employee benefit consulting and brokerage operations.
Arthur J Gallagher & Co chairman, president and CEO J Patrick Gallagher, Jr., said, "Longfellow is well-known and highly respected for its leadership, innovation, strong market relationships, and a culture that focuses on establishing long-term, quality partnerships with clients."
"Not only will they help reinforce our strong employee benefits position in the Boston area, but they will also strengthen our preferred position with carriers and other benefit provider partners throughout New England."
Most recently, the company purchased Norway-based retail insurance broker Bergvall Marine, which offers an array of marine insurance products and risk management insurance services for its international clients.
Arthur J Gallagher & Co operates in 23 nations and offers client-service capabilities in more than 140 countries globally, leveraging a network of correspondent brokers and consultants.