Re/insurance broking firm, Arthur J. Gallagher & Co. have acquired St. Cloud, Minnesota-based Mahowald Insurance, LLC.
Terms of the transaction were not disclosed.
Founded in 1930, Mahowald is a retail insurance agency that offers commercial and personal products, as well as employee benefit packages and risk management services for clients across the Midwest.
In a press release, it states that Bob Mahowald, Jr., and his team will remain in their current location under the direction of Sean Gallagher, head of Gallagher’s Great Lakes region retail P&C brokerage operations, and Tom Lannen, head of Gallagher’s Midwest region employee benefits consulting operations.
J. Patrick Gallagher, Jr., Chairman, President and CEO, commented: “Mahowald has an outstanding reputation as a fourth-generation broker whose health care market expertise will enhance our capabilities in the region.
“I am very pleased to welcome Mahowald to Gallagher.”
Arthur J. Gallagher have made a series of acquisitions lately. At the end of November, it was announced that the firm had acquired California-based Bulen & Associates Insurance Services, Inc.
Then, in the middle of November, the firm acquired North Carolina-based PIUS Limited and its affiliate Newlight Capital.