Arthur J. Gallagher & Co. has officially completed the acquisition of Eastern Insurance Group LLC, a subsidiary of Eastern Bank located in Natick, Massachusetts. The move is part of Gallagher’s strategy to expand its insurance and risk management service offerings in around 130 countries.
Eastern Insurance Group offers commercial property/casualty and personal lines products as well as employee benefits consulting to clients throughout the Northeast US.
The previously disclosed acquisition was first revealed in September when Gallagher signed a definitive agreement for the acquisition.
“Eastern Insurance is highly regarded throughout New England, where they have established a strong culture and demonstrated steady organic growth. Their extensive niche expertise in retail, construction, real estate, hospitality and benefits will enhance the value we deliver to our clients and significantly expand our capabilities in the region,” Gallagher president, chairman, and CEO J. Patrick Gallagher, Jr. said in September.
Tim Lodge and his team will remain in their current location under the direction of Patrick Kennedy, head of Gallagher’s Northeast region retail property/casualty brokerage operations, and John Neumaier, head of Gallagher’s East region employee benefits consulting and brokerage operations.
