Arthur J. Gallagher & Co. (AJG) announced on Thursday that it has acquired Afina Insurance Advisors Inc., a property and casualty brokerage firm based in Illinois. The specific terms of the deal have not been made public. This strategic acquisition is anticipated to enhance Gallagher's current retail brokerage services within the Chicago area.
Post-acquisition, George Van Denend and his team will continue operations from their existing location, now reporting to Ryan Isaacs, who leads Gallagher's Midwest region retail property and casualty brokerage operations.
J. Patrick Gallagher, Jr., Chairman and CEO, remarked, "Afina Insurance is a well-respected agency, and its niche expertise perfectly complements our existing retail brokerage offerings in the Chicago region. We are excited to welcome George and his team to the Gallagher family."
In early market trading, shares of Arthur J. Gallagher & Co. are listed at $288.59, marking a slight increase of 0.08% on the New York Stock Exchange.
