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Gallagher acquires excess and surplus lines broker

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Arthur J. Gallagher & Co. on Wednesday said it has acquired Gabor Insurance Services Inc., including its American Professional Liability Underwriters subsidiary.

Terms of the transaction were not disclosed.

Miami-based Gabor is an excess and surplus lines insurance broker and managing general agency that provides commercial and personal property/casualty insurance products and services to its retail brokers throughout the U.S. Southeast, Gallagher said in a statement.

It specializes in commercial property and professional liability with a focus on architects and engineers, lawyers, health care and other professionals, according to the statement.

Ronald Gabor, Michael Gabor, Robert Kenney and their associates will operate from their Miami, Sebastian, Boca Raton and Tampa, Florida, locations under the direction of Joel Cavaness, president of Gallagher's Risk Placement Services Inc. subsidiary, according to the statement.

Arthur J. Gallagher & Co. is the world's fourth-largest broker, according to Business Insurance's latest ranking.