Arthur J. Gallagher & Co. has acquired US West based Centennial Insurance Agency for an undisclosed sum as part of inorganic expansion in the US. The deal will see Centennial’s staff and five locations remain active, with direction coming from Arthur J. Gallagher & Co.’s James McFarlane.
The US West based Centennial Insurance Agency (Centennial) was formed through three major acquisitions, two in 1981 and one in 1985. Today, the company has grown from three employees to twenty-five, working across five offices, with four in Colorado and one in New Mexico. The company provides a range of insurance needs, including car and property insurance for personal clients, and a broad range of product types for commercial clients.
The acquisition of Centennial by Arthur J. Gallagher & Co. will see the company’s client partnership carrier relationships and team-based sales and service capabilities within the Colorado region added to Gallagher’s offering, providing the latter with a further reach for its continued inorganic expansion across the globe.
Centennial’s management team, including Mark Swanson, David Swanson, Doug Helzer, Tom Ratzlaff as well as their staff, will remain in place – with direction coming from James McFarlane, Head of Gallagher’s Western region retail property/casualty brokerage operation.
J. Patrick Gallagher Jr., Chairman, President and CEO of Arthur J. Gallagher & Co. says about the acquisition: “Their strong Colorado presence and depth of expertise will be an excellent complement to our Western Region brokerage operations, and we are extremely pleased to welcome Mark, David, Doug, Tom and their colleagues to our growing Gallagher family of professionals.”
The acquisition in the US follows three recent deals, two in the US and one in New Zealand. Early in November, Arthur J. Gallagher & Co. acquired New Zealand based insurance broker Reid Manson, while in the US it picked up Ohio-based Sigma II Insurance, and back in September it bought The Benfield Group, a US-based healthcare consulting firm.