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Arthur J. Gallagher Adds Farallone Pacific, Boosts Portfolio
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Arthur J. Gallagher & Co. (AJG - Free Report) recently acquired Farallone Pacific Insurance Services, LLC. to further enhance its already strong portfolio. Terms of the deal remained undisclosed.
Established in 2004, Novato, CA-based Farallone Pacific Insurance Services is a retail property/casualty (P&C) broker. The insurance broker has carved a niche for itself in providing insurance and risk management solutions for non-profit organizations, schools, affordable housing and private clients. Scott Firestone, the head of Arthur J. Gallagher's Southwest retail P&C brokerage operations, will lead the acquired operations.
Arthur J. Gallagher remains committed toward adding capabilities to its portfolio. Farallone Pacific's forte in the non-profit organizations, affordable housing and charter school space will perfectly compliment the acquirer’s strategy. To date, this is the 12th acquisition by the company in the quarter.
Arthur J. Gallagher’s impressive growth is driven by organic sales, acquisition and mergers. Buyouts not only widen the company’s geographical footprint but also enhance its service portfolio. Furthermore, such deals strengthen its position in retail and wholesale insurance brokerage services and risk management industries. Year to date, the shares of Arthur J. Gallagher have gained 8.3%, outperforming the Zacks categorized Insurance Broker industry’s 6.3% increase.
Insurers often undertake strategic buyouts to drive growth. No wonder, mergers and acquisitions dominate the space. This quarter, Assurant, Inc. (AIZ - Free Report) inked a deal to buy Green Tree Insurance Agency, Inc. from Walter Investment Management Corp. to strengthen its capabilities in the housing market. On the other hand, Brown and Brown Inc. (BRO - Free Report) announced that its unit has acquired the commercial MGA operations of Insurance House.
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Arthur J. Gallagher Adds Farallone Pacific, Boosts Portfolio
Arthur J. Gallagher & Co. (AJG - Free Report) recently acquired Farallone Pacific Insurance Services, LLC. to further enhance its already strong portfolio. Terms of the deal remained undisclosed.
Established in 2004, Novato, CA-based Farallone Pacific Insurance Services is a retail property/casualty (P&C) broker. The insurance broker has carved a niche for itself in providing insurance and risk management solutions for non-profit organizations, schools, affordable housing and private clients. Scott Firestone, the head of Arthur J. Gallagher's Southwest retail P&C brokerage operations, will lead the acquired operations.
Arthur J. Gallagher remains committed toward adding capabilities to its portfolio. Farallone Pacific's forte in the non-profit organizations, affordable housing and charter school space will perfectly compliment the acquirer’s strategy. To date, this is the 12th acquisition by the company in the quarter.
Arthur J. Gallagher’s impressive growth is driven by organic sales, acquisition and mergers. Buyouts not only widen the company’s geographical footprint but also enhance its service portfolio. Furthermore, such deals strengthen its position in retail and wholesale insurance brokerage services and risk management industries. Year to date, the shares of Arthur J. Gallagher have gained 8.3%, outperforming the Zacks categorized Insurance Broker industry’s 6.3% increase.
The company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Insurers often undertake strategic buyouts to drive growth. No wonder, mergers and acquisitions dominate the space. This quarter, Assurant, Inc. (AIZ - Free Report) inked a deal to buy Green Tree Insurance Agency, Inc. from Walter Investment Management Corp. to strengthen its capabilities in the housing market. On the other hand, Brown and Brown Inc. (BRO - Free Report) announced that its unit has acquired the commercial MGA operations of Insurance House.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>