Arthur J. Gallagher & Co. Acquires Hanover Excess & Surplus of North Carolina

Arthur J. Gallagher & Co. has aquired Wilmington, N.C.-based Hanover Excess & Surplus, Inc. Terms of the transaction were not disclosed.

Established in 1970, Hanover Excess & Surplus is a regional managing general agency offering hard-to-place coastal commercial and personal property/casualty coverages, as well as professional liability coverages, to clients across North Carolina, South Carolina, Virginia and Georgia.

Matt Letson and his associates will continue to operate from their Wilmington location under the direction of Joel Cavaness, head of Risk Placement Services, Inc. (RPS), Gallagher’s U.S. wholesale brokerage operation.

1. Patrick Gallagher, Jr., chairman, president and CEO of Arthur J. Gallagher & Co said the acquisition will enhance Gallagher’s presence in North Carolina, and bring additional specialty market expertise leadership capabilities to RPS.

Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 49 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.

Topics Mergers & Acquisitions Excess Surplus North Carolina A.J. Gallagher