Arthur J. Gallagher & Co. Acquires Real Estate Insurance Solutions

Rhea-AI Summary

Arthur J. Gallagher & Co. announced the acquisition of Real Estate Insurance Solutions based in Park City, Utah. Established in 2004, the firm specializes in real estate errors & omissions insurance and cyber liability, serving agents and brokers across 32 states. Chris Nangle and his team will continue operations under Kevin Garvin. The acquisition aims to bolster Gallagher's real estate practice by integrating specialized expertise. The financial terms of the deal remain undisclosed, but this move may enhance Gallagher's service offerings in the real estate sector.

Positive

• Acquisition strengthens Gallagher's real estate practice with specialized expertise.
• Real Estate Insurance Solutions operates in 32 states, expanding Gallagher's market reach.

Negative

• None.

ROLLING MEADOWS, Ill., Nov. 23, 2021 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Park City, Utah-based Real Estate Insurance Solutions. Terms of the transaction were not disclosed.

Founded in 2004, Real Estate Insurance Solutions offers real estate errors & omissions insurance/cyber liability to commercial and residential real estate agents and brokers, business brokers, appraisers, home inspectors, title insurance agents, mortgage brokers, leasing agents and property managers in 32 states. Chris Nangle and his associates will remain in their current location under the direction of Kevin Garvin, head of Gallagher Affinity.

"Real Estate Insurance Solutions brings Gallagher a strong team of real estate E&O specialists to further enhance the offerings of our outstanding real estate practice," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am very pleased to welcome Chris Nangle and his 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 57 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 Arthur J. Gallagher's acquisition of Real Estate Insurance Solutions?

The acquisition enhances Gallagher's capabilities in real estate insurance, allowing for a broader range of services.

When was the acquisition of Real Estate Insurance Solutions announced?

The acquisition was announced on November 23, 2021.

Who will lead the Real Estate Insurance Solutions team after the acquisition?

Chris Nangle and his team will remain under the direction of Kevin Garvin, head of Gallagher Affinity.

What type of insurance does Real Estate Insurance Solutions provide?

The firm specializes in real estate errors & omissions insurance and cyber liability.

How many states does Real Estate Insurance Solutions operate in?

Real Estate Insurance Solutions offers services in 32 states.