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Tuesday, March 5, 2024

Gallagher acquires Viriginia-based retail company

Gallagher acquires Viriginia-based retail company | Insurance coverage Enterprise America

Acquired agency focuses on agricultural and crop insurance coverage coverages

Gallagher acquires Viriginia-based retail agency

Insurance coverage Information

Mika Pangilinan

Arthur J. Gallagher & Co. continues to develop its M&A portfolio with the addition of Shelton & Alderson Insurance coverage Company, Inc.

The Virginia-based retail company does enterprise beneath the title FarmPLUS Insurance coverage Providers. It focuses on agricultural and crop insurance coverage coverages, serving shoppers throughout Virginia, North Carolina, and South Carolina.

With the acquisition, the FarmPLUS workforce, together with founders Tim Alderson and Amy Alderson, will stay of their present location in Blairs. They are going to function beneath the steerage of Bumpy Triche, who leads Gallagher’s Southeast retail property/casualty brokerage operations. 

Chairman and CEO J. Patrick Gallagher, Jr. commented on the deal in a brand new launch, stating that the addition of FarmPLUS will develop Gallagher’s agricultural market capabilities.

“I’m delighted to welcome Tim, Amy and their associates to Gallagher,” he added.

In different current information, the broking large revealed in January its fourth quarter outcomes for 2023. It reported revenues of $2.05 billion in comparison with $1.7 billion in the identical interval of the earlier yr.

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