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Arthur J. Gallagher & Co. has acquired North Star Insurance Services LLC and North Star Marine Insurance Services LLC, the broker said in a statement Tuesday.
Terms of the transaction were not disclosed.
North Star Insurance Services, based in Seattle and founded in 2001, provides coverage including hull, machinery, marine liabilities and cargo for commercial fishing, tugs and barges, shipyards and ocean-going cargo vessels, the statement said.
Fairhaven, Massachusetts-based North Star Marine Insurance Services was established in 2014 to address growing customer demand in that region.
President John Walsh, Partner and Senior Vice President Ian Blackburn and the company’s roughly 12 employees will continue to operate from their current locations under the direction of Jim Buckley, head of Gallagher’s Northwest region retail property/casualty brokerage operations.
Gallagher is the fourth-largest brokerage ranked by revenue generated by U.S. clients, according to Business Insurance’s 2020 ranking.
Arthur J. Gallagher & Co. said Monday it has acquired Schenectady, New York-based Charles W. Merriam & Son Inc., which does business as The Merriam Agency, in a deal that strengthens its nonprofit expertise.