Arthur J. Gallagher & Co. on Monday said it has acquired St. Cloud, Minnesota-based Mahowald Insurance LLC.
Terms of the transaction were not disclosed.
Mahowald is a retail insurance agency founded in 1930 that offers commercial and personal insurance, employee benefits packages and risk management services to clients in the Midwest, it said in a statement.
The brokerage’s website lists 38 employees, including Bob Mahowald Jr., risk advisor, who, along with his team, will remain in their current location led by Sean Gallagher, head of Gallagher’s Great Lakes region retail/casualty operations, and Tom Lannen, manager . of Gallagher’s Midwest region employee benefits consulting business, it said in a statement.
J. Patrick Gallagher Jr., chairman, president and CEO, said in the statement that Mahowald̵7;s expertise in the healthcare market will enhance Gallagher’s capabilities in the region.
Arthur J. Gallagher & Co. is the fourth largest broker of US companies, according to the latest Business insurance ranking.