(RTTNews) - Arthur J. Gallagher & Co. (AJG) on Thursday announced the acquisition of Illinois-based Afina Insurance Advisors Inc., a property/casualty broker. The financial details of the deal have not been disclosed.
The company expects the acquisition to boost its existing retail brokerage services in the Chicago area.
Arthur J. Gallagher said George Van Denend and his team will remain in their current location under the direction of Ryan Isaacs, head of Gallagher's Midwest region retail property/casualty brokerage operations.
"Afina Insurance is a highly regarded agency whose niche expertise complements our existing retail brokerage capabilities in the Chicago area," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am delighted to welcome George and his associates to Gallagher."
During the pre-market hours, Arthur J. Gallagher & Co.'s stock is trading at $288.59, up 0.08 percent on the New York Stock Exchange.
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