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Member, Beacon International Group, Ltd.
In a move to strengthen its wholesale insurance brokerage presence in the Midwest, Arthur J. Gallagher & Co. acquired a St. Louis-based managing general agency and wholesale brokerage.
The acquisition of S.A. Freerks & Associates Inc. aims to bolster the insurance brokerage’s wholesale unit, Itasca, Ill.-based Risk Placement Services Inc., Arthur J. Gallagher said in a statement this week.
Founded in 1979, S.A. Freerks & Associates provides excess and surplus lines, professional liability, and other specialty insurance products throughout the Midwest, with a focus in the transportation, hospitality and construction industries, according to the statement.
“For over 30 years, SAFA has developed an outstanding reputation for their knowledge of specialty products and their capability to match hard to place risks with the appropriate markets," said J. Patrick Gallagher, Jr., president and CEO, in the statement. "Not only will they provide us a solid wholesale presence in the Midwest, their expertise will also be a wonderful complement to our expanding wholesale network which makes them an excellent merger partner.”
Arthur J. Gallagher said the staff of S.A. Freerks & Associates will continue to operate from its current locations and be under the direction of Joel Cavaness, president of Risk Placement Services.
The terms of the acquisition were not disclosed.