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During the past week, two major brokerages—Hub International Inc. and Arthur J. Gallagher & Co.—announced acquisitions.
Chicago-based Hub acquired Charlotte, N.C.-based brokerage Knauff Insurance Agency Inc. Knauff will become part of Hub International Southeast and will continue to operate out of its existing office in Charlotte.
Hub said in a statement that Knauff “is particularly known for its expertise in serving the insurance and risk management needs of the construction, education, and manufacturing industries and regularly hosts client workshops in partnership with Charlotte community leaders.”
Itasca, Ill.-based Gallagher & Co. announced its acquisition of Cincinnati-based Schiff, Kreidler-Shell Insurance and Risk Services headquartered in Cincinnati, Ohio. “With operations dating back to 1876, Schiff, Kreidler-Shell Insurance and Risk Services is a retail insurance broker providing property/casualty, employee benefits and risk management insurance and consulting services to their clients throughout the central United States,” said Gallagher in a statement announcing the move. “They specialize in the construction, agriculture, manufacturing, healthcare and financial service industries as well as cultural and social service non-profit organizations.”
Gallagher also expanded its international operations by acquiring a 78.5% interest in Insurance Dialogue Ltd. of Bournemouth, England.
Insurance Dialogue Ltd., trading under the brand Insure4Retirement, is a retail insurance broker “providing personal lines insurance for their clients primarily in the U.K. that are over 50 years of age,” said Gallagher in its announcement of the deal.
None of the terms of the three transactions were dislosed.