Arthur J. Gallagher & Co. Acquires John P. Woods, Colonial Agency

September 6, 2000

Co. Arthur J. Gallagher & Co. has acquired John P. Woods Co. Inc. of Jersey City, New Jersey and Atlanta, Georgia, and The Colonial Agency, Inc. of upstate New York. Terms of the transactions were not disclosed.

Established in 1978, John P. Woods Co., Inc. provides a full range of property/casualty, life, accident & health treaty reinsurance products. In 1999, Business Insurance rated them the tenth largest reinsurance brokerage firm in the world. The companies will continue to operate in their current locations under the direction of John Woods, Chairman, and Jay Woods, President.

Michael Hutcherson will continue to oversee the operations of The Colonial Agency, Inc. Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has offices in nine countries and does business in more than 100 countries around the world through a network of correspondent brokers and consultants.

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