Arthur J. Gallagher & Co. Acquires Charter Lakes Marine Insurance Agency

ITASCA, Ill., Dec. 11, 2012 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Charter Lakes Marine Insurance Agency, headquartered in Grand Rapids, Michigan. Terms of the transaction were not disclosed.

Founded in 1986, Charter Lakes operates as a retail property/casualty insurance broker, program administrator and managing general agency specializing exclusively in commercial and personal marine insurance products and services. Charter Lakes is one of the largest insurers of yachts, boats and passenger vessels in the United States, serving clients from its offices in Michigan, Florida, Maryland, North Carolina and Texas. Dan Longman and his associates will continue to operate from their current locations under the direction of Thomas J. Gallagher, head of Gallagher's Midwest retail property/casualty brokerage operations.

"Charter Lakes is highly regarded throughout the marine industry for its personalized customer service capabilities, depth of expertise and solid market relationships," said J. Patrick Gallagher, Jr., Chairman, President and CEO.  "Their team-based sales culture, specialization and geographic presence will be a terrific addition to our marine operations.  We are very pleased to welcome Dan and his associates to our growing Gallagher family of professionals."

Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 17 countries and offers client service capabilities in more than 110 countries around the world through a network of correspondent brokers and consultants.

Contact:  Marsha Akin
Director - Investor Relations
630-285-3501/[email protected]

SOURCE Arthur J. Gallagher & Co.