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Gallagher buys California agency


Arthur J. Gallagher & Co. said Monday it has acquired El Cerrito, California-based agency NEK Insurance Inc.

Terms of the transaction were not disclosed.

Founded in 1954, NEK specializes in property/casualty coverages for daycare centers and k-8 schools, residential care facilities and small remodeling contractors with underwriting authority in these three segments.

Executive vice presidents Kevin Bruns, Jennifer Sylvestri and Kyle Peterson and about 15 employees will be part of Gallagher’s San Francisco branch under the direction of Jim Buckley, head of Gallagher’s Northwest region retail property/casualty brokerage operations.

J. Patrick Gallagher Jr., chairman, president and CEO, said in a statement that the acquisition offers cross-selling opportunities.

Arthur J. Gallagher & Co. is the fourth-largest broker of U.S. business, according to the most recent Business Insurance rankings.