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Gallagher forms ART unit


ITASCA, Ill. —Arthur J. Gallagher & Co. has combined several units to form Artex Risk Solutions Inc., a provider of alternative risk transfer services.

The newly formed entity combines: Arthur J. Gallagher (Bermuda) Ltd. of Hamilton, Bermuda; Innovative Risk Services, a U.S.-based sales and marketing arm of AJG Bermuda; Gallagher Captive Services Inc.; Scholastic & Municipal Risk Services; and Gallagher's captive management units in Bermuda, Grand Cayman, Hawaii and Vermont. The units had combined revenues of about $20 million in 2006, according to a spokesman.

Itasca, Ill.-based Artex—the creation of which "has been in the works for about a year," the spokesman said—has a primary focus on providing ART solutions to commercial middle-market and public entity industry segments.

David J. McManus will serve as president of Artex, which has a total staff of nearly 120, split between the company's offices in Itasca and Hamilton, Bermuda.

Mr. McManus, who most recently served as president of Arthur J. Gallagher (Bermuda), will remain based in Bermuda.