Gallagher Acquires Virginia-Based Retail Agency | Insurance business America
The acquired company specializes in agricultural and crop insurance
Insurance News
By Mika Pangilinan
Arthur J. Gallagher & Co. continues to expand its M&A portfolio with the addition of Shelton & Alderson Insurance Agency, Inc.
The Virginia-based retail agency operates under the name FarmPLUS Insurance Services. The company specializes in agricultural and crop insurance and serves customers throughout Virginia, North Carolina and South Carolina.
With the acquisition, the FarmPLUS team, including founders Tim Alderson and Amy Alderson, will remain at their current location in Blairs. They will operate under the direction of Bumpy Triche, who runs Gallagher’s Southeast retail real estate and casualty insurance brokerage business.
Chairman and CEO J. Patrick Gallagher, Jr. commented on the deal in a new press release, stating that the addition of FarmPLUS will expand Gallagher’s capabilities in the agricultural market.
“I am pleased to welcome Tim, Amy and their staff to Gallagher,” he added.
In other recent news, the brokerage giant announced its fourth quarter 2023 results in January. It reported revenue of $2.05 billion compared to $1.7 billion in the same period last year.
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2024-02-02 10:20:56
www.insurancebusinessmag.com
