Arthur J. Gallagher & Co. has expanded its presence in Michigan with the acquisition of Peabody Insurance Agency in Fenton.
Peabody Insurance provides a range of insurance solutions to both commercial and personal clients, with a strong focus on sectors such as construction, manufacturing, and multifamily real estate.
As part of the deal, Jim Peabody, Grace Peabody-Ljoljic, and their team will continue operating from their Fenton location, working under the leadership of Sean Gallagher, who heads Gallagher’s retail property & casualty operations across the Great Lakes region.
In Michigan, Gallagher is already present in Ann Arbor, Bloomfield Hills, East Lansing, Grand Rapids, Jackson, Kalamazoo, Saginaw, and Saint Clair Shores.
Read more: Gallagher buys Filos Agency
J. Patrick Gallagher, Jr., chair and chief executive of Gallagher, commented: “Peabody Insurance is a highly regarded agency with niche expertise that will enhance our retail brokerage capabilities in Michigan. “I am delighted to welcome Jim, Grace, their family, and associates to Gallagher.”
Prior to this new transaction, financial terms of which were not disclosed, Gallagher acquired Oklahoma-based Scout Benefits Group and California-based Statewide Commercial Insurance Brokers as part of the global broker’s ongoing expansion.
What do you think about this story? Share your thoughts in the comments below.
