ROLLING
MEADOWS, Ill., April 19,
2022 /PRNewswire/ -- Arthur
J. Gallagher & Co. today announced the acquisition of
Hinsdale, IL-based G.A. Mavon
& Co. and its Mavco Insurance Agency, Inc. subsidiary. Terms of
the transaction were not disclosed.
Founded in 1916, G.A. Mavon & Co. is a fourth-generation,
family-run, standard and specialty lines wholesale broker. Mavco
Insurance Agency, founded in 1972, is its retail insurance agency
subsidiary. Both firms serve the insurance needs of high-net-worth
personal lines clients, as well as commercial business owners, with
a focus on professional lines. Phil
Mavon and his associates will continue to operate from their
current location under the direction of Matt Lynch, VP-Central Binding Region for Risk
Placement Services, Inc., Gallagher's US wholesale brokerage,
binding authority and programs division, and Jeff Saunders, President of Personal Lines for
Gallagher's US retail property/casualty brokerage operations.
"G.A. Mavon and Mavco Insurance Agency are well-respected
businesses with a similar culture to ours that will expand our
high-net-worth offerings in the Midwest region," said J.
Patrick Gallagher, Jr., Chairman,
President and CEO. "We are very pleased to welcome Phil and his
associates to our rapidly growing team."
Arthur J. Gallagher & Co.
(NYSE:AJG), a global insurance brokerage, risk management and
consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has
operations in 68 countries and offers client service capabilities
in more than 150 countries around the world through a network of
correspondent brokers and consultants.
Investors: Ray
Iardella
|
Media: Linda J.
Collins
|
VP - Investor
Relations
|
VP- Corporate
Communications
|
630-285-3661/ ray_iardella@ajg.com
|
630-285-4009/
linda_collins@ajg.com
|
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SOURCE Arthur J. Gallagher &
Co.