Arthur J. Gallagher & Co, a global insurance brokerage, risk management and consulting services firm, said on Friday that it had acquired Murray Gardner Insurance Agency Inc, dba BMR Insurance, based in Tustin, California.
However, the company did not disclose any financial details of the agreement.
BMR Insurance is a retail insurance agency that serves commercial and personal lines clientele mostly across Southern California.
“BMR Insurance has a culture like our own and will expand our retail brokerage capabilities in Southern California,” J. Patrick Gallagher, Jr., Chairman, President and Chief Executive Officer, said in a press release.
“I am delighted to welcome Gary and his associates to Gallagher,” the CEO added.
Stock Performance
The shares of Arthur J. Gallagher & Co (AJG) closed 0.63% ($1.82) lower at $286.54 in New York on Friday.
The company’s total market cap now stands at $71.579 billion.
The shares of Arthur J. Gallagher & Co (AJG) went up 19.27% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).
The company’s shares have risen another 27.42% so far this year.
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