International insurance brokerage, risk management and consulting services firm, Arthur J. Gallagher & Co. (AJ Gallagher), has acquired Hanover Excess & Surplus, Inc.
Based in Wilmington, North Carolina, Hanover Excess & Surplus was established in 1970 and operates as a regional managing general agency offering hard-to-place coastal commercial and personal P&C solutions, and professional liability coverages.
The firm has clients across North Carolina, South Carolina, Virginia, and Georgia in the U.S. It’s been revealed that under the terms of the transaction, Matt Letson and his associates will continue to operate from their current location in Wilmington under the direction of Joel Cavaness, Head of Risk Placement Services, Inc., Gallagher’s U.S. wholesale brokerage business.
J. Patrick Gallagher, Jr., Chairman, President and Chief Executive Officer (CEO) of AJ Gallagher, commented: “Hanover Excess & Surplus will enhance our presence in North Carolina, and brings additional specialty market expertise and strong leadership capabilities to RPS. I am excited to welcome Matt and his associates to our growing global enterprise.”
