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Arthur J. Gallagher acquires construction broker

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Arthur J. Gallagher & Co. said Monday that it has acquired Construction Risk Solutions L.L.C.

The terms of the transaction were not disclosed.

Hunt Valley, Maryland-based Construction Risk Solutions is a retail insurance broker that provides property/casualty, risk management insurance and surety services for the construction industry. 

Construction Risk Solutions President John Wagner and his associates will continue to operate from their current location, Gallagher said in a statement.

They will operate under the direction of Douglas Brown, head of Gallagher's Northeast retail property/casualty brokerage operations, Arthur J. Gallagher & Co. said in the statement.

Arthur J. Gallagher is the world’s fourth-largest insurance broker, according to Business Insurance’s latest ranking.