Itasca, Ill.-based Arthur J. Gallagher & Co. announced the acquisition of Specialty Advisory Services, Inc. of Morristown, N.J. Terms of the transaction were not disclosed.
Incorporated in January 2000, Specialty Advisory Services, Inc. specializes in consulting, development and placement of specialized insurance programs for industry specific and affinity groups. They also place both traditional and program reinsurance through Gallagher’s intermediary operations. Ronald H. Molatto and his staff will continue to operate in their Morristown, New Jersey location under the direction of Randall S. Jensen, President of Arthur J. Gallagher Intermediaries, Inc., a subsidiary of Arthur J. Gallagher & Co.
J. Patrick Gallagher, President and Chief Executive Officer, said, “The addition of Specialty Advisory Services will help expand our reinsurance and consulting capabilities to our commercial clients throughout the United States, and we expect them to be a solid contributor to our reinsurance operations. We are extremely pleased to welcome Ron and his team to our growing Gallagher family of professionals.”
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in nine countries and does business in more than 100 countries around the world through a network of correspondent brokers and consultants. Gallagher is traded on the New York Stock Exchange under the symbol AJG.
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