Arthur J. Gallagher & Co. announced the acquisition of two New Jersey-based wholesale brokers: Excel Insurance Services Inc., located in Hamilton; and McCloskey Surplus & Excess Inc. (d/b/a Metcom Excess), located in Ridgefield Park. Terms of the transactions were not disclosed.
Established in 1999, Excel Insurance Services is a commercial property/casualty and personal lines wholesale broker that offers coverages for hard-to-place risks to its agent and broker clients throughout the Northeastern U.S. The firm specializes in the hospitality, real estate, construction and auto industries. Dennis Pellegrino, Jr. and his associates will continue to operate from their current location under the direction of Joel Cavaness, president of Risk Placement Services Inc., a subsidiary of Arthur J. Gallagher & Co.
Founded in 1979, Metcom Excess is a managing general agent and wholesale insurance broker that provides excess and surplus, property/casualty, commercial binding and brokerage, professional liability and other specialty insurance products and services to its agent and broker clients throughout the Northeastern U.S. The firm also specializes in personal lines and insurance coverages for the transportation industry. Charles McCloskey, Jr. and his colleagues will also operate from their current location under the direction of Risk Placement Services’ Cavaness.
Headquartered in Itasca, Illinois, Arthur J. Gallagher & Co. is an international insurance brokerage and risk management services firm. It has operations in 30 countries and offers client service capabilities in more than 140 countries through a network of correspondent brokers and consultants.
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