Gallagher buys Illinois specialty lines wholesale broker

Arthur J. Gallagher & Co. said Tuesday it has acquired Hinsdale, Illinois-based G.A. Mavon & Co. and its Mavco Insurance Agency Inc. subsidiary.

Terms of the transaction were not disclosed.

G.A. Mavon & Co. is a fourth-generation, family-run, standard and specialty lines wholesale broker. Mavco Insurance Agency, founded in 1972, is its retail insurance agency subsidiary.

Both firms serve high-net-worth personal lines clients and commercial business owners, with a focus on professional lines. Mavco has about two dozen employees according to a Gallagher spokeswoman.

Mavon President Phil Mavon and his associates will continue to operate from their current location under the direction of both Matt Lynch, vice president - central binding region for Risk Placement Services Inc., Gallagher’s U.S. wholesale brokerage, binding authority and programs division, and Jeff Saunders, president of personal lines for Gallagher’s U.S. retail property/casualty brokerage operations.