Arthur J. Gallagher Co has announced the acquisition of Southern Insurance Group, LLC based in Columbia, Mississippi.
Southern Insurance Group specializes in commercial and personal property/casualty insurance coverages, serving clients across Mississippi and the Southeast US.
Its team will continue operating from the firm’s location under the leadership of Bumpy Triche, head of Gallagher’s Mid-South retail property/casualty brokerage operations.
“Southern Insurance Group's excellent client relationships will complement our existing capabilities in the region,” said chairman, president, and CEO J. Patrick Gallagher. “I am delighted to welcome the Southern Insurance Group team to Gallagher.”
With a presence in approximately 130 countries worldwide, Gallagher is among the most prominent insurance and risk management brands.
Its acquisition of Southern Insurance Group is the latest in a series of M&A deals. Last month, the broking giant acquired California-based retail insurance broker Wigmore Insurance Agency, Inc.
Before that, it swooped for Hagan Insurance Group in Sioux Falls and two Tennessee-based subsidiaries of Bernard Health.
Gallagher’s second-quarter results released in late July reported net earnings totaling $235.8 million, 10.8% organic revenue growth, and a 14% reported net earnings margin.
What are your thoughts on this story? Feel free to comment below.
