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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.
Arthur J. Gallagher & Co. saw revenue increase and earnings fall in its third-quarter results released Thursday.