Arthur J. Gallagher buys Calif. Insurance Center

By Associated Press
September 12, 2008 | Comments (0)

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Arthur J. Gallagher & Co., which provides insurance brokerage and risk-management services, said Friday it purchased retail insurance broker California Insurance Center Inc. to help expand its Western operations.

Financial terms were not disclosed.

Lafayette, Calif.-based California Insurance Center provides risk management and commercial property/casualty insurance services. They also offer programs for the construction, real estate/hospitality, marine, private equity and manufacturing industries.

The acquisition is part of a flurry of transactions Gallagher has conducted over the past several months. In August the company bought Dallas-based Wm. W. George & Associates Inc., an insurance broker specializing in construction, legal, manufacturing, staffing and other industries. It also purchased Marlton, N.J.-based Lance Group LLC, an employee-benefit consulting and brokerage company, and Voluntary Benefits Solutions LLC in June.

Shares of Arthur J. Gallagher added 11 cents to $26.93 in afternoon trading.

“Arthur J. Gallagher buys Calif. Insurance Center”

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Arthur J. Gallagher buys Calif. Insurance Center

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