Arthur J. Gallagher & Co. (AJG) has acquired MGA Insurance Group (MGA) of Lakewood Ranch, Florida, though the terms of the transaction were not disclosed.
MGA is a national programme administrator that provides affinity and association programme products and services for independent insurance and financial service contractors throughout the US.
It specialises in developing coverage programmes for these contractors including professional liability and other affinity products such as life, ancillary health, business service discounts and training.
Lou Marinaccio and his team will continue to operate from their Lakewood Ranch location under the direction of Kevin Garvin, head of Gallagher's North American affinity operations.
Chairman, president and CEO of AJG, Patrick Gallagher Jr, said: "We continue to look for new partners that will add to our specialty products and services capabilities, expand our geographic presence and fit well within our culture, and MGA has all of these qualities.”
"MGA's strong client and insurance carrier relationships, solid underwriting expertise, national presence and deep knowledge of the affinity insurance space make them an outstanding addition to our US affinity operations.”
This acquisition appears to be the third in a series after AJG purchased captive management firm Heritage Insurance Management and Canadian insurance broker Noraxis Capital earlier in May.
