Arthur J. Gallagher (AJG) Announces Acquisition of Regency Group
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Arthur J. Gallagher & Co. (NYSE: AJG) announced the acquisition of Regency Group located in East Lansing, Michigan. Terms of the transaction were not disclosed.
Established in 1981, Regency Group (Regency), a wholesale insurance broker and program administrator, provides group and large firm self-insured, workers compensation programs for its independent retail insurance broker clients throughout Michigan. They offer customized workers compensation programs and services with an emphasis on program design, regulatory approval and compliance, and administration and claims management. Regency also provides retail specialty programs and products for the landscaping, retail hardware and restaurant industries. Timothy Hanna and his team will continue to operate from their location in East Lansing under the direction of Joel Cavaness, President of Risk Placement Services, Inc., (RPS) a subsidiary of Arthur J. Gallagher & Co.
"The Regency team is well known for their industry knowledge, trade association relationships and niche expertise. Their strong Michigan presence will be a wonderful complement to our company's expanding geographic footprint," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "They also have strong carrier relationships which are so important when placing risks for retail clients, and their expertise in workers compensation programs will be an excellent addition to RPS' network. We are extremely pleased to welcome Tim and his associates to our growing RPS family of professionals."
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