Arthur J. Gallagher & Co. Acquires Lighthouse Insurance Group, LLC

Rhea-AI Summary

Arthur J. Gallagher & Co. has announced the acquisition of Lighthouse Insurance Group, LLC (LIG), based in Independence, Ohio. Founded in 2009, LIG specializes in health insurance products and Medicare plans for individuals not eligible for corporate plans. This acquisition aims to enhance Gallagher's health and ancillary insurance offerings, particularly for pre- and post-retiree clients. Jason Farro, Anthony Naoum, and their team will continue operations under Gallagher's leadership, potentially driving growth in the employee benefits sector.

Positive

• Acquisition enhances health and ancillary insurance offerings.
• Brings transitional options for pre- and post-retirees.
• LIG has a diverse customer lead generation network.

Negative

• None.

ROLLING MEADOWS, Ill, May 2, 2022 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Independence, Ohio-based Lighthouse Insurance Group, LLC (LIG). Terms of the transaction were not disclosed.

Founded in 2009, LIG offers health insurance products, Medicare plans and advisory solutions to families and individuals throughout the United States who do not qualify for conventional corporate plans. LIG manages a diverse customer lead generation network comprised primarily of third-party lead providers, direct carrier partners and more than 80 associations. Jason Farro, Anthony Naoum and their associates will remain in their current location under the direction of Tom Belmont Jr., U.S. Health & Benefits Practice Leader for Gallagher's employee benefits consulting and brokerage operations.

"LIG is a rapidly growing benefit consultant that expands our health and ancillary insurance offerings, and brings transitional options to the pre- and post-retirees of our employer clients," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am very pleased to welcome Jason, Anthony 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. 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.

FAQ

What is the significance of AJG's acquisition of Lighthouse Insurance Group?

The acquisition enhances AJG's health and ancillary insurance offerings, expanding their client service capabilities.

When was the acquisition of Lighthouse Insurance Group announced?

The acquisition was announced on May 2, 2022.

Who are the key personnel involved in the Lighthouse Insurance Group acquisition?

Jason Farro, Anthony Naoum, and their associates will remain under AJG's leadership.

How does the acquisition affect AJG's services for retirees?

It provides transitional options for pre- and post-retiree clients, enhancing their benefits consulting services.

What services does Lighthouse Insurance Group provide?

LIG offers health insurance products and Medicare plans primarily for individuals not qualifying for conventional corporate plans.