Gallagher buys surety bond agency

Arthur J. Gallagher & Co. said Tuesday it has acquired Salem, Oregon-based Surety Solutions LLC and Agency Multiplied Inc.

Terms of the transaction were not disclosed.

Surety Solutions specializes in offering surety bonds for mortgage brokers, artisan contractors and other industries across the United States, Gallagher said in a statement. Agency Multiplied developed Surety Solutions’ software.

Surety Solutions founder and President Corban Enns and his associates will continue to operate from their current location under the direction of Jay Eshelman, Tulsa, Oklahoma-based head of small business and affinity practices for Gallagher’s U.S. retail property/casualty brokerage operations.

Gallagher, the world’s fourth-largest insurance broker according to Business Insurance’s latest ranking, was one of the top five buyers among insurance brokers in the United States and Canada last year.