Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm based in Itasca, said this week it has reached an reached agreement to acquire Kane Group's insurance management operations (KIM).
The acquisition is expected to close by the end of the month and is subject to closing conditions.
KIM is a global insurance management company that started in 1984. It specializes in forming and managing insurance and alternative risk solutions, serving multiple industries.
Current KIM leaders and their associates will continue operating from the company's existing locations in the United States and beyond under the direction of David McManus, head of Artex Risk Solutions Inc.
"KIM is highly regarded for its industry-leading expertise in the ILS (insurance-linked security) market and its emphasis on quality customer service," Arthur J. Gallagher Chairman, President and CEO J. Patrick Gallagher Jr. said. "KIM's specialized products add to Artex's client capabilities, and its team will expand Artex's presence, particularly in Bermuda and Cayman. This group will be a wonderful complement to Artex Risk Solutions as it continues to add innovative client products and extend its international footprint."
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is based in Itasca, Illinois. The company operates in numerous countries around the world.