The global insurance brokerage and consulting firm, Arthur J. Gallagher & Co., has acquired a North Carolina-based intellectual property insurance firm.
PIUS, or Patent Insurance Underwriting Services, is considered a managing general agent. Its services allow clients to insure patented and other intellectual property assets, which assist in financing, the companies explained.
“PIUS’ proprietary insurance product provides a credit enhancement for growing companies to secure better financing options,” PIUS said on its website. “By insuring the loan based on its evaluation of the IP and other assets, PIUS helps facilitate greater loan amounts.”
The head of the company, Joe Agiato, will remain at PIUS, under the direction of Patrick Kennedy, head of Gallagher’s Northeast retail property/casualty brokerage operations.
The publicly traded Gallagher is headquartered in in Rolling Meadows, Illinois.
Topics Mergers & Acquisitions Property North Carolina A.J. Gallagher
Was this article valuable?
Here are more articles you may enjoy.
US Cyber Insurance Market Sees Flat Premium, More Third-Party Claims Hit Loss Ratio 
Why Are Property & Casualty Carriers So Profitable? 
PE-Backed Insurance Broker Hub International Files Confidentially for US IPO 
A Super Yacht Armada Came to Miami, Leaving a Marine Graveyard in Its Wake 
