Insurance giant Arthur J. Gallagher & Co. has announced the acquisition of Sioux Falls-based Hagan Insurance Group. Terms of the transaction were not disclosed.
The deal brings valuable insurance member benefits and financial management services catering to professional associations and affinity groups, Gallagher said.
The leadership team at Hagan Insurance Group, including Brian Hagan and Michael Murphy, will continue to operate from their current location. They will report to Kevin Garvin, head of Affinity North America for Gallagher's retail property-casualty brokerage operations.
Read next: How Gallagher is “winning” from inflation
“Hagan Insurance Group will enhance our association offerings, bringing us complementary expertise and providing significant cross-selling opportunities,” said J. Patrick Gallagher Jr., Chairman, president and CEO of Gallagher. “I am delighted to welcome Brian, Michael and their associates to Gallagher.”
Hagan Insurance Group is the latest in a string of acquisitions for Gallagher. In May, the global broker acquired two Tennessee-based subsidiaries of Bernard Health, as well as Texas-based RHP General Agency. In April, Gallagher made its largest HR benefits acquisition to date with the purchase of Buck, valued at $660 million.
Have something to say about this story? Let us know in the comments below.
