Boston, MA 09/12/2014 (wallstreetpr) – Arthur J. Gallagher & Co. (NYSE:AJG), the famous international insurance brokerage firm, has acquired Parmia Pty Ltd. It is an insurance broker and risk management provider firm located in located in Beenleigh, Queensland, Australia. The two companies have not disclosed the terms of the transaction.
Also, Arthur J. Gallagher acquired Everett James in this week. Everett James is located in Ridgefield, Connecticut. It is an old firm that is in the industry since 1990. Apart from the brokerage services, Everett James offers employee benefits consulting to large and middle-market customers in the Northeast. They have got expertise in providing welfare and group health consulting to both public and private entity organizations.
The profile
Parmia was established in 2002, and it provides casualty insurance and retail property solutions to industry group clients and professional associations. Its clients are based in Australia. The firm has got specialized coverages in different areas including finance, fitness, beauty and graphic design. Danny Gumm and his associates is not a part of the acquisition and will continue to operate under Gallagher’s Australia brokerage business. Arthur J. Gallagher & Co. (NYSE:AJG) has got worldwide presence with operations in 30 countries. It offers client service solutions in more than 140 countries. These services are provided through associated brokers and consultants.
The significance
It is a significant acquisition for Arthur J. Gallagher & Co. (NYSE:AJG) as Parmia has got experience and expertise in the field of risk management solutions and is a well-known insurance broker. The niche expertise of Parmia is in line with the business model of Arthur J. Gallagher. Therefore, they are the best choice to expand the operations in Australia. The solutions reflect the deep commitment for delivering the outstanding services to clients. Chairman, President and the CEO, Arthur J. Gallagher, Jr., said that Parmia has got an excellent team based culture. He welcomed Danny and his colleagues as a part of Gallagher family of professionals.
