Arthur J. Gallagher Acquires NiiS/Apex Group

April 19, 2002

Arthur J. Gallagher & Co. announced the acquisition of NiiS/Apex Group Holdings, Inc. headquartered in Salem, Massachusetts. Terms of the transaction were not disclosed.

The bulletin noted that “NiiS/Apex provides claims management and auditing, actuarial and employee benefits consulting and other consulting services for medical, disability, workers compensation and other property/casualty coverages to their clients worldwide. They operate through nine offices nationally and one in London, England. The group’s clients include healthcare and property/casualty risk-bearers consisting of Lloyd’s Syndicates, foreign and domestic insurers and reinsurers, self-insured entities, governmental entities and health maintenance organizations.”

NiiS/Apex Group Holdings, Inc. was formed in January, 2000 through the merger of Northshore International Insurance Services, Inc., which was founded in 1988, and Apex Management Group, Inc. of Princeton, New Jersey, which was founded in 1993.

Both Gallagher’s Executive VP, Michael J. Cloherty and David Ives, President and CEO of NiiS/Apex, strongly endorsed the acquisition. Cloherty noting that the company “is well known as innovators in the industry,” and would “bring us a giant step closer to our goal of superior client service.” While Ives indicated that “This merger is the best decision for all our constituencies. With Gallagher, we have carefully chosen a partner who shares our values, culture and commitment to success. This is a growth opportunity for both our company and our employees, and we are looking forward to sharing the future with Gallagher.”|”arthur, j., gallagher, acquires, niis/apex, group

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