Gallagher buys risk program administrator

Arthur J. Gallagher & Co. has acquired Phoenix-based risk program administrator Ashton Tiffany LLC, Gallagher said in a statement Tuesday.

Terms of the transaction were not disclosed.

Founded in 1995 and with more than 90 employees, Ashton Tiffany specializes in developing and managing public entity risk pools.

Company founders John Ashton and Michael Tiffany Jr. and their staff will continue to operate from Phoenix as part of Gallagher’s Risk Program Administrators division, under the direction of Cynthia LaMantia, head of Gallagher’s Great Lakes region retail property/casualty brokerage operations.

The division was formed in 2016 to serve public entity pools and programs, Gallagher said.

“Gallagher’s decades-long experience with managing risk pools, combined with Ashton Tiffany’s market recognition and attractive proprietary administrative tools, strongly positions us for continued growth in this area,” Chairman, President and CEO J. Patrick Gallagher Jr. said in the statement.

Headquartered in Rolling Meadows, Illinois, Gallagher is the fourth-largest brokerage ranked by revenue generated by U.S. clients, according to Business Insurance’s 2020 ranking.