Arthur J. Gallagher & Co. has acquired Conshohocken, Penn.-based Preston-Patterson Co. Inc. Terms of the transaction were not disclosed.
Founded in 1947, Preston-Patterson is a retail property and casualty insurance broker offering a range of coverages and services to broadcasters and media clients throughout the U.S. It also serves other commercial clients, as well as personal lines clients with a particular focus on coastal property exposures along the Atlantic Seaboard.
Stephen, John and Stuart Patterson, and their associates, will initially remain in their current locations in Conshohocken and in Barnegat Light, N.J., under the direction of Dan Tropp, head of Gallagher’s Mid-Atlantic retail property and casualty brokerage operations.
Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Ill. The company has operations in 35 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
Source: Arthur J. Gallagher & Co.
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