Arthur J. Gallagher & Co, a global insurance brokerage, risk management and consulting services firm, said on Wednesday that it had acquired Louisville, Kentucky-based WLA Insurance LLC (“Altman Insurance Services”).
However, the company did not disclose any financial details.
Altman Insurance Services provides employee benefits, brokerage and consulting services to small and large group businesses in Kentucky, Indiana, Ohio and Tennessee.
“Altman Insurance Services is a highly regarded agency with a strong culture that will expand our employee benefits capabilities in the South Central region,” J. Patrick Gallagher, Jr., Chairman, President and Chief Executive Officer, said in a press release.
Billy Altman, Mike Summerfield and their team will remain in their current location and will be led by Robby White, head of Gallagher’s South Central region operations.
“I am delighted to welcome Billy, Mike and their associates to Gallagher,” the CEO added.
The shares of Arthur J. Gallagher & Co (AJG) were last gaining 1.67% ($3.76) to trade at $228.98 in New York on Wednesday, while extending the gain from the previous market session.
The company’s total market cap now stands at $49.34 billion.
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