Arthur J. Gallagher & Co. Acquires Tejas American General Agency, LLC

Rhea-AI Summary

On November 2, 2022, Arthur J. Gallagher announced the acquisition of Tejas American General Agency (TAGA), a Texas-based managing general agency specializing in commercial, farm, and personal insurance products. The acquisition is expected to enhance Gallagher's growth opportunities in Texas. Key executives from TAGA will continue to operate under Risk Placement Services, Inc., a division of Gallagher, under the direction of Kevin Doyle. The transaction terms remain undisclosed, with Gallagher emphasizing TAGA's strong culture and expertise as assets for future expansion.

Positive

• Expansion into Texas market expected to enhance growth opportunities.
• TAGA's expertise aligns well with Gallagher's business strategy.
• Retention of TAGA's experienced team ensures continuity and integration.

Negative

• None.

ROLLING MEADOWS, Ill., Nov. 2, 2022 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced that its U.S. wholesale brokerage, binding authority and programs division, Risk Placement Services, Inc. (RPS), has acquired Cedar Park, Texas-based Tejas American General Agency, LLC (TAGA). Terms of the transaction were not disclosed.

Founded in 1997, TAGA is a managing general agency offering commercial, farm and personal insurance products to independent agents throughout Texas. Bart Koch, Anita Herzog, Cindy Yurkovich, Richard Salley and their team will remain in their current location under the direction of Kevin Doyle, VP-Western Region & Chicago for RPS.

"TAGA is a well-regarded agency whose deep expertise and strong culture will enhance our growth opportunities in Texas," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am very pleased to welcome Bart, Anita, Cindy, Richard and their associates to our global company."

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 the acquisition of Tejas American General Agency by AJG?

The acquisition enhances AJG's growth opportunities in Texas and strengthens its service capabilities through TAGA's expertise.

When was the acquisition of TAGA announced by AJG?

The acquisition was announced on November 2, 2022.

What type of insurance products does Tejas American General Agency provide?

TAGA offers commercial, farm, and personal insurance products to independent agents.

Who will manage TAGA after its acquisition by AJG?

TAGA will continue to operate under the direction of Kevin Doyle, VP-Western Region & Chicago for RPS.

What are the transaction terms for the acquisition of TAGA?

The terms of the transaction have not been disclosed publicly.