Arthur J. Gallagher & Co. Acquires Premier Brokerage Services, Inc.

Rhea-AI Summary

Arthur J. Gallagher & Co. (NYSE: AJG) announced the acquisition of Premier Brokerage Services, Inc., a life insurance wholesale agency based in Jenkintown, PA. The acquisition aims to enhance Gallagher's life brokerage capabilities, particularly in the high-net-worth agent and advisory markets. Founded in 1995, Premier specializes in permanent and term life insurance, annuities, and long-term care products, with approximately 80% of its business on the East Coast. The financial terms of the deal were not disclosed, and Premier's team will continue under Gallagher's leadership.

Positive

• Acquisition enhances Gallagher's life brokerage capabilities.
• Focus on high-net-worth advisory market for potential revenue growth.
• Premier's expertise in advanced planning and underwriting benefits clients.

Negative

• None.

ROLLING MEADOWS, Ill., Dec. 15, 2020 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Jenkintown, Pa.-based Premier Brokerage Services, Inc. Terms of the transaction were not disclosed.

Founded in 1995, Premier is a high-net-worth focused life insurance wholesale agency offering primarily permanent and term life insurance, annuities and long-term care products from its offices in Jenkintown and Miami, Fla. Premier places coverage throughout the U.S., with approximately 80% of the business concentrated on the East Coast. Steven J. Katz and his associates will continue to operate from their current locations under the direction of Jeff Leonard, Gallagher's North American Practice Leader for Financial and Retirement Services.

"Premier Brokerage Services will enhance our life brokerage capabilities in the high-end agent and advisory space, and our clients will benefit from their advanced planning and underwriting expertise," said J, Patrick Gallagher, Jr., Chairman, President and CEO. "They are also a great cultural fit, and I'm very pleased to welcome Steven and his associates to our growing organization."

Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 49 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 purpose of Arthur J. Gallagher's acquisition of Premier Brokerage Services?

The acquisition aims to enhance Gallagher's life brokerage capabilities, particularly in high-net-worth markets.

When was the acquisition of Premier Brokerage Services announced?

The acquisition was announced on December 15, 2020.

What is Premier Brokerage Services known for?

Premier is known for its focus on permanent and term life insurance, annuities, and long-term care products.

How will this acquisition impact AJG's business?

The acquisition is expected to improve AJG's service offerings in the life insurance sector, especially for high-net-worth clients.

Where is Premier Brokerage Services located?

Premier Brokerage Services has offices in Jenkintown, PA, and Miami, FL.