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Member, Beacon International Group, Ltd.
Arthur J. Gallagher & Co. said it has acquired Advanced Benefit Advisors Inc., a Cherry Hill, N.J.-based benefits broker.
Established in 2005, Advanced Benefit provides group health care, wellness, dental, life and disability benefit plan placement and consulting services, predominantly for employers in the automotive, financial services and health care industries.
Terms of Gallagher's purchase were not disclosed.
“ABA is well-known in the industry for their team-focused approach to personalized client service and solid market relationships,” J. Patrick Gallagher, president and CEO of Itasca, Ill.-based Arthur J. Gallagher, said Thursday in a statement. “Their specialization and geographic presence will be an excellent complement to our employee benefits operation.”
A staff of about 15, including President and CEO Robert Petcove, will remain with the company under the direction of David Ziegler, executive vice president of Gallagher's employee benefit practice for the eastern region.
Advanced Benefit Advisors is the fifth benefit brokerage Gallagher has purchased since the start of the year. The company's other 2013 acquisitions include Hardman & Howell Benefits L.L.C., Argus Benefits, Gardner & White Corp. and Corporate Benefit Advisors Inc.
Arthur J. Gallagher is the third-largest broker of U.S. business based on Business Insurance's 2012 ranking.