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Arthur J. Gallagher Expands in Florida with Lutgert Buyout
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Arthur J. Gallagher & Co. (AJG - Free Report) recently acquired Premier Insurance, LLC, doing business as Lutgert Insurance. The financial details of the transaction, however, remain under wraps.
Naples, FL-based Lutgert Insurance is a retail property and casualty broker established in 1953. The benefit consultant provides personal and commercial insurance across various lines of business such as construction, hospitality and real estate development. Its client profile includes various real estate development and property managers as well as high-net-worth individuals.
Post takeover, Lutgert Insurance will continue to operate from its present location, under the leadership of Peter Doyle, head of Gallagher's Southeast retail property and casualty brokerage operations, and John Tournet, head of Gallagher's Southeast employee benefits consulting and brokerage operations.
This buyout is expected to boost the presence of the acquirer in southwest Florida and enable it to enhance its private client practice in the state. Further, Lutgert Insurance’s in-depth expertise and varied client portfolio are expected to be highly accretive to the acquirer’s portfolio.
Arthur J. Gallagher has been pursuing a string of mergers and acquisitions to boost its portfolio. On Sep 12, the company acquired Franklin-Case Agency operating in New York and New Jersey. With this new buyout, the company has closed 10 acquisitions in the ongoing quarter. The company has already closed 21 acquisitions with annualized revenues of over $92.8 million in the first half of 2017. A strong capital position, backed by sustained solid operational performance; supports Arthur J. Gallagher pursue strategic acquisitions.
Stocks That Warrant a Look
Stocks from the insurance industry that warrant a look are Atlas Financial Holdings, Inc. , Markel Corporation (MKL - Free Report) and Mercury General Corporation (MCY - Free Report) .
Atlas Financial Holdings engages in underwriting commercial automobile insurance policies in the United States. The company delivered a positive earnings surprise in two of the last four quarters, with the average beat being 57.94%.
Markel Corporation markets and underwrites specialty insurance products in the United States and internationally. The company delivered a positive earnings surprise in two of the last four quarters, with the average beat being 21.06%.
Mercury General Corporation engages in writing personal automobile insurance in the United States. The company beat estimates in three of the trailing four quarters, with an average positive earnings surprise of 1.06%.
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
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Arthur J. Gallagher Expands in Florida with Lutgert Buyout
Arthur J. Gallagher & Co. (AJG - Free Report) recently acquired Premier Insurance, LLC, doing business as Lutgert Insurance. The financial details of the transaction, however, remain under wraps.
Naples, FL-based Lutgert Insurance is a retail property and casualty broker established in 1953. The benefit consultant provides personal and commercial insurance across various lines of business such as construction, hospitality and real estate development. Its client profile includes various real estate development and property managers as well as high-net-worth individuals.
Post takeover, Lutgert Insurance will continue to operate from its present location, under the leadership of Peter Doyle, head of Gallagher's Southeast retail property and casualty brokerage operations, and John Tournet, head of Gallagher's Southeast employee benefits consulting and brokerage operations.
This buyout is expected to boost the presence of the acquirer in southwest Florida and enable it to enhance its private client practice in the state. Further, Lutgert Insurance’s in-depth expertise and varied client portfolio are expected to be highly accretive to the acquirer’s portfolio.
Arthur J. Gallagher has been pursuing a string of mergers and acquisitions to boost its portfolio. On Sep 12, the company acquired Franklin-Case Agency operating in New York and New Jersey. With this new buyout, the company has closed 10 acquisitions in the ongoing quarter. The company has already closed 21 acquisitions with annualized revenues of over $92.8 million in the first half of 2017. A strong capital position, backed by sustained solid operational performance; supports Arthur J. Gallagher pursue strategic acquisitions.
Stocks That Warrant a Look
Stocks from the insurance industry that warrant a look are Atlas Financial Holdings, Inc. , Markel Corporation (MKL - Free Report) and Mercury General Corporation (MCY - Free Report) .
Atlas Financial Holdings engages in underwriting commercial automobile insurance policies in the United States. The company delivered a positive earnings surprise in two of the last four quarters, with the average beat being 57.94%.
Markel Corporation markets and underwrites specialty insurance products in the United States and internationally. The company delivered a positive earnings surprise in two of the last four quarters, with the average beat being 21.06%.
Mercury General Corporation engages in writing personal automobile insurance in the United States. The company beat estimates in three of the trailing four quarters, with an average positive earnings surprise of 1.06%.
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Download the new report now>>