Marsh & McLennan Agency (MMA), a subsidiary of insurance broker Marsh, has acquired Gallagher & Associates , a $1m property and casualty insurance agency specializing in public school districts.
Minnesota-based Gallagher & Associates will operate within RJF, a Marsh & McLennan Agency company, adding to the depth of RJF’s property and casualty business.
The transaction is the first complementary acquisition for RJF, which MMA acquired in January 2011 to serve as its upper Midwest hub, according to insurance broker.
As a part of this aquisition, Tom Gallagher, John Siffert, and the rest of the Gallagher & Associates team will join RJF’s Minnesota office and continue in their current roles.
Gallagher & Associates principal and founder Tom Gallagher said as part of MMA, clients will enjoy the same high-quality service they’ve come to expect from the firm and gain new and enhanced capabilities and resources from RJF/MMA to meet their needs.
Terms of the transaction were not disclosed.