Gallagher buys broker focused on real estate sector

Arthur J. Gallagher & Co. has acquired CRES Insurance Services LLC, which specializes in providing errors and omissions coverage to real estate firms and agents, the brokerage announced on Monday.

Terms of the deal were not disclosed.

CRES is based in Las Vegas, with an additional office in San Diego. It has about 35 staff, headed by Steve Sargenti.

The CRES operation will report to Kevin Garvin, head of Gallagher’s North American affinity business, according to a Gallagher statement.