Arthur J Gallagher & Co. (AJG - Free Report) recently inked a deal to acquire a Massachusetts-based insurance broker for an undisclosed amount.
Arthur J. Gallagher & Co.’s strong financial position comprising substantial cash balance and retained earnings continues to support its series of acquisitions.
The insurance broker, known as Tudor Risk Services, LLC was founded in 2009 and is located in Woburn, MA. It provides employee benefits insurance and consulting services, property and casualty insurance coverage to all lines, risk management services, group health and welfare and wellness plans to its clients across northeastern United States.
Arthur J Gallagher & Co. expects the acquisition to further enrich its own portfolio and strengthen operations in the Northeast.
Arthur J. Gallagher & Co. regularly undertakes acquisitions to augment its product and service offerings and at the same time, leverage its international footprint. In the previous quarter, the company made eleven acquisitions. Further in February this year, the company announced the acquisition of Kent, Kent & Tingle, based in Shreveport, LA for an undisclosed amount.
Prior to that, on Feb 14, in an effort to consolidate its foothold throughout the United States, Arthur J Gallagher & Co. announced the first buyout of the first quarter of 2014 by acquiring Alabama-based Benefit Development Group of Selma for an undisclosed amount.
Going ahead, we expect Arthur J. Gallagher & Co.’s compelling inorganic growth story to boost its top- and bottom-line growth.
Among others in the property and casualty insurance industry, a wholly-owned subsidiary of White Mountains Insurance Group Ltd. (WTM - Free Report) announced, in Dec 2013, its decision to take over Star & Shield Risk Management LLC for an undisclosed amount.
Also, in Nov 2013, The Travelers Companies, Inc. (TRV - Free Report) closed its acquisition of Dominion of Canada General Insurance.
Arthur J Gallagher & Co. presently carries a Zacks Rank #3 (Hold). A better-ranked stock in the same space worth mentioning is Erie Indemnity Co. (ERIE - Free Report) , with a Zacks Rank #2 (Buy).