Arthur J. Gallagher & Co. announced today that it has acquired Monument LLC, a program administrator headquartered in Malvern, Pennsylvania, with an additional office in Newport Beach, California. Terms of the transaction were not disclosed.
Established in 2002, Monument is a program administrator that provides group and large firm self-insured, workers’ compensation programs for its retail insurance broker clients throughout California. Their primary services include a customized approach to each program with an emphasis on program design, regulatory approval and compliance, administration, specific safety and loss control, and claims management.
Monument President and CEO David G. Bramwell and his team will continue to operate out of their current Malvern and Newport Beach locations under the direction of Joel Cavaness, president of Risk Placement Services, Inc. (RPS) a subsidiary of Arthur J. Gallagher & Co.
Arthur J. Gallagher President and CEO J. Patrick Gallagher, Jr. said Monument’s strong California presence and its expertise in workers’ compensation programs would complement RPS’ expanding geographic footprint and network.
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm headquartered in Itasca, Illinois, has operations in 30 countries and offers client-service capabilities in more than 140 countries around the world through a network of correspondent brokers and consultants.
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