Arthur J. Gallagher and Co., a global insurance brokerage, risk management, and consulting services firm based in Illinois, has signed a definitive agreement to acquire Bloomfield Hills’ LSG Insurance Partners. The deal is expected to close in the fourth quarter, and financial terms were not disclosed.
“With their deep capabilities, focused consultative approach, and strong emphasis on cross-selling, the LSG team will be a terrific strategic complement to our U.S. brokerage and consulting operations,” says J. Patrick Gallagher Jr., chairman, president, and CEO of Gallagher.
LSG was founded in 1968 and is an independent insurance, risk management, and consulting services agency. It offers employee benefits, commercial property and casualty, private client, and merger and acquisition services and coverages to clients across the U.S.
“For over 50 years, we have focused on the power of partnership with one goal in mind – to be the best possible adviser and advocate for our valued clients,” says Jay Schreibman, president and CEO of LSG. “We will be delighted to bring our clients the deep expertise and broad access to products and services Gallagher offers while maintaining our high-touch, service-driven approach. This will give us the scale, geographic reach, and multi-channel network to effectively support our clients as their businesses grow.”
The company’s staff will continue to operate from its Bloomfield Hills and Milwaukee branch locations under the direction of Tom Lannen, head of employee benefits consulting and brokerage operations for Gallagher’s Great Lakes region, and Cindy LaMantia, head of retail property and casualty brokerage operations for Gallagher’s Great Lakes region.
Gallagher has operations in 35 countries and offers client service in more than 150 countries.