Arthur J. Gallagher & Co. Acquires Belmont International

Date : 09/18/2013 @ 4:00AM
Source : PR Newswire (US)
Stock : Arthur J. Gallagher & Co. (AJG)
Quote : 66.69  -1.88 (-2.74%) @ 3:59PM
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Arthur J. Gallagher & Co. Acquires Belmont International

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ITASCA, Ill., Sept. 18, 2013 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Belmont International (Belmont), located in Kent, England.  Terms of the transaction were not disclosed.

Established in 1988, Belmont is a risk management advisor and insurance broker that provides both retail insurance and employee benefits products and services for their commercial and personal lines U.K. clients.  They also specialize in coverage for the passenger transportation, real estate and renewable energy industries.  While the founder, Barrie Etchells, plans to retire, he will be retained on a consultancy basis throughout the integration process.  His deputy, David Hinton, and his more than 80 associates will report through Gallagher's U.K. retail and employee benefits brokerage businesses.

"Belmont is highly regarded for its depth of risk management experience, solid market relationships and client-focused service culture," said J. Patrick Gallagher, Jr., Chairman, President and CEO.  "Their southeastern U.K. geographic presence and strong niche expertise will be an excellent complement to our U.K. operations, and we are pleased to welcome David and his colleagues to our growing Gallagher family of professionals."

Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 20 countries and offers client service capabilities in more than 140 countries around the world through a network of correspondent brokers and consultants. 

CONTACT:    Marsha J. Akin
Director – Investor Relations

SOURCE Arthur J. Gallagher & Co.

Copyright 2013 PR Newswire

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