In its continuing effort to ramp up its inorganic growth
Arthur J. Gallagher & Co
) acquired Bergvall Marine for an undisclosed amount.
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Based in Oslo, Norway and founded in 1896, Bergvall Marine, with
annualized revenue of $5 million, offers marine insurance
products and risk management insurance services across the globe.
Addition of Bergvall Marine to Arthur J. Gallagher & Co.'s
portfolio will consolidate the latter's foothold in marine
insurance, besides adding to international capabilities.
The latest buyout marks sixth acquisition in the quarter to date.
Last month, Arthur J. Gallagher & Co. closed the Giles
acquisition along with Addison, Texas based Employee Benefits
Analysis Corporation and The Parks Johnson Agency based in Lake
Arthur J. Gallagher & Co. has been consistently following the
inorganic path to ramp up its growth profile. The company closed
eight acquisitions with annualized revenues totaling $135.5
million. The company's strong financial position continues to
support its robust acquisition strategy.
Among other insurance brokers, Brown & Brown of Kentucky Inc.
a subsidiary of
Brown & Brown Inc
) has agreed to acquire selected assets of O'Neil Financial
Services, Agency Services Consolidated Inc. as well as certain
assets of Preserve Extended Protection Plan Inc. in December. Yet
Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance
Marsh & McLennan Companies, Inc
), announced the acquisition of Cambridge Property &
Casualty, one of the largest property/casualty insurance agencies
in Michigan in the same month.
There was no earnings momentum over the last 7 days. With
optimism over Arthur J. Gallagher & Co.'s solid inorganic
story, we expect analysts to pull their estimates, exerting
upward pressure on the Zacks Rank. Arthur J. Gallagher
& Co. presently carries a Zacks Rank #3 (Hold).
In the insurance space, multi-line insurer
Enstar Group Limited
) with Stone Point Capital jointly announced the acquisition of
Atrium Underwriting Group Ltd. from Arden Holdings Ltd for $158