Gallagher buys agency with construction, auto expertisePosted On: Oct. 9, 2019 12:05 PM CST
Arthur J. Gallagher & Co. on Wednesday said it has acquired Louisville, Kentucky-based Garrett-Stotz Co., an independent agency specializing in coverage for construction/surety, real estate and auto dealers.
Terms of the transaction were not disclosed.
Garrett-Stotz President Bill Kantlehner III, Vice President Tom Mitchell, Secretary-Treasurer Don Mucci, all shareholders, and their associates will continue to operate from their Louisville location, Gallagher said in a statement.
The Garrett-Stotz team will report to Bumpy Triche, head of Gallagher's Mid-South region retail property/casualty brokerage operations, and Jerry Roberts, head of Gallagher's Heartland region employee benefit consulting and brokerage operations, Gallagher said.
Founded in 1931, with around 50 staff, Garrett-Stotz is a full-service commercial and personal lines property/casualty and benefits agency with annual premium in excess of $50 million in 2014, according to its website.
“Garrett-Stotz enhances our presence in Kentucky and Indiana, brings us additional expertise in construction and surety, and provides new cross-selling opportunities,” J. Patrick Gallagher Jr., chairman, president and CEO, said in the statement.
Arthur J. Gallagher & Co. is the world’s fourth-largest insurance brokerage, according to Business Insurance’s latest ranking.