Global insurance broker Arthur J. Gallagher & Co. has acquired First Premium Insurance Group, Inc. in Covington, Louisiana. Terms of the transaction were not disclosed.
Established in 1973, First Premium is a managing general agent and wholesale insurance broker throughout the southern United States. The firm specializes in insurance for manufactured homes, personal lines and commercial property/casualty businesses.
The company said Jay Pellegrini, Jr., Greg Pellegrini and their associates will continue to operate from their current location in Covington under the direction of Joel Cavaness, president of Risk Placement Services, Inc., a subsidiary of Arthur J. Gallagher & Co.
First Premium will be his firm’s “first true wholesale/MGA presence in Louisiana,” said J. Patrick Gallagher, Jr., chairman, President and CEO.
Arthur J. Gallagher & Co., headquartered in Itasca, Illinois, has operations in 17 countries.