Gallagher Arthur J (NYSE:AJG)
Historical Stock Chart
1 Month : From May 2019 to Jun 2019
ROLLING MEADOWS, Ill., May 21, 2019 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Parsippany, N.J.-based RPA Insurance Services, LLC and Innovative Coverage Concepts, LLC. Terms of the transactions were not disclosed.
RPA Insurance Services is an industry leader in providing insurance and risk management services to the Restaurant and Hospitality industry. They have developed proprietary loss prevention and claim management techniques to help their diverse client base control Total Cost of Risk and outperform industry loss averages. RPA operates from offices in New Jersey, California, Colorado, Pennsylvania and Florida. Innovative Coverage Concepts (ICC) is a program manager and managing general agency focused exclusively on developing and delivering specialized insurance programs for restaurants of all types throughout the United States.
Dean Carras and his team will continue to operate in their current locations reporting to Dan Tropp, head of Gallagher's Mid-Atlantic retail property/casualty brokerage operations, and Joel Cavaness, head of Gallagher's U.S. wholesale brokerage operations.
"RPA and ICC are clear leaders in the restaurant insurance space, a focus which fits well with our niche strategy," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "We're very excited to welcome Dean and his team to Gallagher."
"The Total Cost of Risk approach that the RPA/ICC team takes in serving their client base dovetails nicely with our Core360™ strategy," added Dan Tropp, referring to Gallagher's comprehensive approach to evaluating clients' risk management programs.
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 35 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
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SOURCE Arthur J. Gallagher & Co.