Arthur J. Gallagher & Co. Acquires SRS Underwriting Agency PTY Ltd
Gallagher Arthur J (NYSE:AJG)
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ITASCA, Ill., Nov. 20, 2012 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of SRS Underwriting Agency PTY Ltd headquartered in Brisbane, Australia. Terms of the transaction were not disclosed.
Founded in 1993, SRS Underwriting Agency (SRS) is a managing general agency which offers a wide variety of insurance products including liability, construction, prestige home, professional risks, motor, and accident and health cover for their broker clients. Going forward, Paul Lynam will lead Gallagher's underwriting group in Australia. He and his associates will continue to operate from their current Brisbane, Sydney and Melbourne locations under the direction of John Hasting-Bass, head of Gallagher's international underwriting operations.
"For two decades, SRS has been successful in developing an underwriting team which is extremely well-known in the industry for its market-leading expertise, innovative products and first-class claims service," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "Their solid relationship with Lloyd's, geographic presence and client capabilities will be a strong complement to our growing international operations in Australia. We're extremely pleased to welcome Paul 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 17 countries and offers client service capabilities in more than 110 countries around the world through a network of correspondent brokers and consultants.
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SOURCE Arthur J. Gallagher & Co.