Arthur J. Gallagher & Co. said late last week that it has acquired North Alabama Insurance, Inc. (NAI), in Florence, Alabama.
"The NAI team is well-known for their depth of underwriting experience, as well as their strong market relationships," Arthur J. Gallagher & Co. Chairman, President and CEO J. Patrick Gallagher, Jr., said.
NAI's Joshua Blevins, John Speir and their associates will continue to operate from their current locations in Florence and Cabot, Arkansas, under the direction of Joel Cavaness, president of Arthur J. Gallagher & Co. subsidiary Risk Placement Services, Inc.
"Their sales culture, focus on client services and product specialization will be a great complement to Risk Placement Services' capabilities," Gallagher said. "We are extremely pleased to welcome Josh, John and their colleagues to Risk Placement Services' family of professionals."
NAI is a 33-year-old wholesale insurance broker that provides property and casualty, commercial auto/garage and other specialty insurance services to their independent retail insurance broker clients.
Terms of the deal were not disclosed.
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is based in Itasca, Illinois.