Arthur J. Gallagher Acquires School Specialist Koster Insurance in Mass.

December 20, 2007

Insurance broker Arthur J. Gallagher & Co. reports it has acquired Koster Insurance Agency, Inc. of Quincy, Mass. Terms of the transaction were not disclosed.

Founded in 1994, Koster Insurance Agency, Inc. specializes in student health, sports accident and special risk insurance programs for colleges, universities and secondary schools throughout the U.S. The firm also offers dental/vision discount programs, short-term medical insurance, sports camp, study abroad, international student, emergency travel assistance, accidental death and dismemberment, tuition reimbursement and student personal property insurance programs to the higher education community.

Teresa Koster and her associates will continue to operate in their Quincy location as Gallagher Koster and will become a part of Gallagher’s Higher Education Practice Group.

“A big part of our merger strategy is to continue to add depth to our niche practice groups,” said J. Patrick Gallagher, Jr., chairman, president and CEO. “This is just one of the many reasons why Koster is such a terrific acquisition.”

Source: Arthur J. Gallagher & Co.

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