Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, has acquired Sioux Falls, South Dakota-based Hagan Insurance Group. Terms of the transaction were not disclosed.
Established more than three decades ago, Hagan Insurance Group has been providing insurance member benefits and financial management to professional associations and affinity groups for a number of years.
The firm is led by Chief Executive Officer, Brian Hagan, and President and & Chief Marketing Officer, Michael Murphy.
According to the announcement, Hagan, Murphy and their team will remain in their current location under the direction of Kevin Garvin, head of Affinity North America for Gallagher’s retail property/casualty brokerage operations.
J. Patrick Gallagher, Jr., Chairman, President and CEO, commented on the acquisition: “Hagan Insurance Group will enhance our association offerings, bringing us complementary expertise and providing significant cross-selling opportunities.
“I am delighted to welcome Brian, Michael and their associates to Gallagher.”
Arthur J. Gallagher has been making a series of acquisitions across the industry within the last few months. Just recently, the firm acquired Carlsbad, California-based Benchmark Commercial Insurance Services.
Then, in May, it was reported that the company had acquired Switzerland-based fine art insurance broker, accurART.
Later that same month, Gallagher subsidiaries Artex Risk Solutions, Inc. and Risk Placement Services, Inc. completed two other separate acquisitions.
