Arthur J. Gallagher & Co.’s wholesale brokerage, binding authority and programs division known as Risk Placement Services has acquired Florida-based SeaCoast Underwriters.
Gallagher, the global insurance brokerage and risk management firm, announced the acquisition on Monday, but terms were not disclosed. Founded in 1996, SeaCoast is a wholesale specialist, a managing general agency with binding authority, and a surplus lines broker for admitted and non-admitted insurers, the company said in a news release.
Headquartered in Lake Mary, Florida, SeaCoast specializes in commercial property and casualty, flood and excess flood, personal lines, and transportation and garage risks in Florida and 13 other states. Shawn Chaffin heads the insurer and he will report to Laura Allen, Risk Placement’s head of Southeast binding operations.
“SeaCoast Underwriters has a strong team of dedicated underwriting professionals who will bring additional products and programs to RPS’s retail agent and broker clients,” said J. Patrick Gallagher, Jr., chairman, president and CEO of Gallagher. “We are very pleased to welcome Shawn and his associates to our growing global team.”
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