International insurance brokerage firm, Arthur J. Gallagher & Co. (AJG), has announced that it has acquired CMS, LLC, a New York-based full-service wholesale insurance broker.
The terms of the transaction have not been disclosed but it has reported that Scott Charney, Rich Verdi, Michael Raab and their associates will remain in their current location.
The trio and their associates will now report to Steve Levin, VP-Northeast Region for Risk Placement Services, a subsidiary of Arthur J. Gallagher & Co.
CMS works with agents across the U.S. and the team has a specialist focus in placing coverages for construction, importing, wholesaling/distributing, manufacturing, and real estate businesses, as well as personal lines.
Arthur J. Gallagher’s Chairman, President and Chief Executive Officer (CEO), J. Patrick Gallagher, Jr., commented: “CMS brings us strong market expertise in construction and real estate, and expands RPS’s ability to deliver standard market coverage solutions to smaller agents.
“We are very pleased to welcome to Scott, Michael, Rich and their associates to our growing global team.”
