Re/insurance broker Arthur J. Gallagher & Co. has acquired retail property/casualty agency Hunt Insurance Group, terms of the transaction were not disclosed.
The Illinois-based agency opened in 1957 by Raymond Hunt. It specialises in labour unions and their associated benefit funds across the Midwest.
According to the announcement, Larry Hunt (Presicent), Matt Hunt (Vice-President) and their team are to remain in their current location under the direction of Ryan Isaacs, head of Gallagher’s Midwest region retail property/casualty brokerage operations.
J. Patrick Gallagher, Jr., Chairman, President and CEO, commented: “Hunt Insurance Group has a strong market reputation whose niche expertise complements our existing Chicagoland business. I am very pleased to welcome Larry, Matt and their associates to Gallagher.”
Hunt Insurance Group has been Gallagher’s most recent acquisition, as it follows Edgar Insurance Brokers’, provider of commercial insurance products and services with a focus on rural and farm, hospitality, transport and trade clients.
Additionally, back in October, the re/insurance broker announced the acquisition of Michigan-based Meadowbrook Insurance Agency.
In the same month, it also announced it had entered into a definitive agreement to acquire Cadence Insurance, a Louisiana-based insurance company and wholly-owned subsidiary of Cadence Bank.
Gallagher’s acquisition of retail insurance broker Hartley Cylke Pacific Insurance Services, and Ace Commercial Insurance Center (Ace) was announced in September.
