Gallagher Buys Nevada Aviation Broker

International broker Arthur J. Gallagher & Co. has announced the acquisition of a Nevada-based aviation brokerage, bringing to 18 the number of companies it has bought this year.

Gallagher said it has obtained Aviation Insurance Holdings Inc., a Las Vegas retail insurance broker offering aviation and aerospace insurance and related risk management services for clients around the world. The firm, trading as Aviation Insurance Services, was founded in 1977.

A Gallagher spokeswoman declined to provide further details.

AIS also specializes in insurance for aviation parts and accessories manufacturers, aircraft management and charter organizations and fixed-base operators, according to a statement from Gallagher.

"Not only will AIS provide us a solid presence in Nevada, their expertise will also be a major addition to Gallagher’s aviation practice group," said J. Patrick Gallagher Jr., chairman, president and chief executive in the statement.

Just last week, Gallagher disclosed the purchase of two other firms: a New Jersey-based wholesale broker and a Cleveland-based employee-benefits consulting and brokerage firm (BestWire, Dec. 17, 2010).

Earlier this month, Gallagher acquired Premier Risk Services Inc., an Illinois retail insurance broker which provides commercial property/casualty and employee-benefits insurance and consulting services (BestWire, Dec. 2, 2010).

In November, Gallagher acquired Behnke & Co. Inc., a retail insurance broker based in Decatur, Ill. (BestWire, Nov. 19, 2010). In October, Gallagher Bassett Services Inc. acquired the third-party administration and managed-care services of GAB Robins North America Inc., based in Parsippany, N.J., and its subsidiary MedInsights (BestWire, Oct. 5, 2010).

Arthur J. Gallagher & Co. is an international insurance brokerage and risk management services firm headquartered in Itasca, Ill. The company operates in 15 countries and does business in more than 100 nations through a network of correspondent brokers and consultants.

Gallagher, with $1.73 billion in revenue for 2009, placed fifth among Best’s Review magazine's top 20 global brokers, ranked by total revenue.

In afternoon trading on Dec. 20, shares of Arthur J. Gallagher (NYSE:AJG) were priced at $29.45, up 0.07% from their previous close.

(Dennis Gorski, Best's Review managing editor)