Global insurance brokerage, Arthur J. Gallagher & Co., has announced that its US wholesale brokerage, binding authority and programs division, Risk Placement Services, Inc. (RPS), has acquired Metairie, Louisiana-based Forest Insurance Facilities.
Forest Insurance Facilities is a commercial lines wholesale insurance broker and managing general agency (MGA).
The company serves clients throughout Louisiana.
From what we understand, Wayne Forest, Jr., Matt Forest, as well as the rest of the team will remain in their current location under the direction of Laura Allen, head of RPS’s Southeast region binding operations.
Terms of the transaction were not disclosed.
J. Patrick Gallagher, Jr., Chairman and CEO, commented on the acquisition: “Forest Insurance Facilities is a well-regarded business whose surplus lines expertise will enhance our wholesale capabilities in the region. I am very pleased to welcome Wayne, Matt and their associates to our growing team.”
In their results for full year 2023, Arthur J. Gallagher & Co. reported total revenues of $9.9 billion, a solid increase from the $8.4 billion recorded in 2022.
Arthur J. Gallagher & Co. also recently announced the successful acquisition of Köberich Financial Lines, based in Cologne, Germany.
