Arthur J. Gallagher & Co. Acquires Three Insurance Agencies

March 9, 2001

Arthur J. Gallagher & Co. Has completed three acquisitions; MDM Insurance Associates, Inc. of Los Angeles, California; SKANCO International, Ltd. of Scottsdale, Arizona; and Madison Scott & Associates, Inc. of Amarillo and Houston, Texas. Terms of the transactions were not disclosed.

Since 1956, MDM Insurance Associates, Inc. has been one of the leading brokers of Directors and Officers and miscellaneous professional liability products. They provide their commercial clients, individual customers, and entertainment risks with a full range of risk management, retail property/casualty and employee benefits products.

They also specialize in financial risk management products tailor-made for retail, mercantile, manufacturing and high net-worth individuals as well as Fortune 1000 companies worldwide. Morton Firestone, Area Vice Chairman, and Calvin Reno, Managing Director Professional Liability, and their staff will continue to operate in their Los Angeles, California location under the direction of James McFarlane, Gallagher’s Southwest Regional Manager.

Created in the early 50’s, SKANCO International, Ltd is an Excess and Surplus Lines wholesale broker that specializes in providing their agents with all types of E&S placements. They place both large and small open brokerage accounts as well as represent many specialty binding carriers in the Southwest. Curtis Anderson, Area Chairman, and Scott Anderson, Area President, and their staff will continue operations in Scottsdale, Arizona under the direction of Joel Cavaness, President of Gallagher’s Risk Placement Services subsidiary.

Madison Scott & Associates, Inc. has specialized in group, health and life products and services for their private sector clients since December 1992. Today, their Texas offices provide employee benefits coverages throughout the South. Madison Scott, Area President, and his staff will continue to operate in both Amarillo and Houston, Texas under the direction of Michael Brewer, Gallagher Benefit Services’ Executive Vice President, South Central Region.

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