Arthur J. Gallagher & Co. Acquires John C. Breckenridge Insurance Solutions, Inc.

Rhea-AI Summary

On January 11, 2023, Arthur J. Gallagher announced the acquisition of John C. Breckenridge Insurance Solutions, Inc. (JCB), a firm specializing in student health and intercollegiate athletics insurance. The terms of the transaction remain undisclosed. This acquisition is set to enhance Gallagher's expertise and product offerings in the student health insurance market on the West Coast. JCB's founders, John and Lisa Breckenridge, will continue to operate under Gallagher's direction, reinforcing Gallagher's commitment to expanding its footprint in the education sector.

Positive

• Acquisition of JCB expands Gallagher's market expertise in student health insurance on the West Coast.
• Strengthening of Gallagher's product offerings in intercollegiate athletics insurance.

Negative

• None.

ROLLING MEADOWS, Ill., Jan. 11, 2023 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Sacramento, California-based John C. Breckenridge Insurance Solutions, Inc. (JCB). Terms of the transaction were not disclosed.

Founded in 2016, JCB is a brokerage and plan management firm specializing in student health and intercollegiate athletics insurance for higher education institutions. John Breckenridge, Lisa Breckenridge 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.

"JCB expands our student health insurance market expertise and product offerings on the West Coast," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am excited to welcome John, Lisa and their associates to Gallagher."

Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.

Investors:  Ray Iardella	Media:  Paul Day
VP - Investor Relations	Communications Manager
630-285-3661/ ray_iardella@ajg.com	630-285-5946/ paul_day1@ajg.com

 

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SOURCE Arthur J. Gallagher & Co.

FAQ

What is the significance of Gallagher's acquisition of JCB on January 11, 2023?

The acquisition enhances Gallagher's market expertise in student health insurance and expands its product offerings on the West Coast.

Who will manage JCB after the acquisition by Gallagher?

John and Lisa Breckenridge will continue to lead their team at JCB under Gallagher's direction.

What industry does JCB operate in?

JCB specializes in student health and intercollegiate athletics insurance for higher education institutions.

What are the financial terms of the acquisition of JCB by Gallagher?

The terms of the transaction have not been disclosed.

How does the acquisition of JCB impact Gallagher's operations?

The acquisition is expected to strengthen Gallagher's presence and expertise in the student health insurance market.