Gallagher acquires Merit Insurance

Arthur J. Gallagher & Co. on Monday said it has acquired Northeast property/casualty broker Merit Insurance Inc.

Terms of the deal were not disclosed.

Shelton, Connecticut-based Merit Insurance is a retail property/casualty broker and employee benefits consultant that offers coverage and services to clients across the Northeast from offices in Shelton and Bridgeport, Connecticut. It focuses on contractors, public entities, real estate developers, nonprofits and high-net-worth clients, Gallagher said in a statement.

Merit Insurance leaders Sean Carroll and James Benson and their associates will continue to operate from their current locations under the direction of Patrick Kennedy, head of Gallagher’s Northeast region retail property/casualty brokerage operations, and Tom Belmont Jr., head of Gallagher's Northeast Atlantic employee benefits consulting and brokerage operations, according to the statement.

Merit Insurance has over 25 brokers on staff, according to its LinkedIn profile.

Arthur J. Gallagher & Co. is the world’s fourth-largest brokerage, according to Business Insurance’s latest ranking.