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ROLLING MEADOWS, Ill. - Arthur J. Gallagher & Co., a global insurance brokerage and risk management services firm, has acquired New Zealand-based insurance broker RMA General Limited and its related businesses. The financial terms of the deal, announced today, remain undisclosed.
RMA specializes in offering a range of insurance products, including commercial and personal lines, as well as customized life and health insurance solutions to clients across New Zealand. Following the acquisition, the RMA team, led by Josh Adams, will report to Carl O’Shea, who oversees Gallagher’s retail brokerage operations in New Zealand. The acquisition aligns with Gallagher’s strong operational performance, having achieved 14.3% revenue growth in the last twelve months.
J. Patrick Gallagher, Jr., Chairman and CEO of Arthur J. Gallagher & Co., highlighted the cultural alignment between the two companies and the strategic expansion of brokerage capabilities in New Zealand as key benefits of the acquisition.
Arthur J. Gallagher & Co., headquartered in Illinois, operates internationally, providing its services in around 130 countries. The firm is listed on the New York Stock Exchange under the ticker (NYSE:AJG).
This move is part of Gallagher’s ongoing strategy to grow its global presence through strategic acquisitions. The incorporation of RMA into Gallagher’s operations is expected to enhance the company’s service offerings in the New Zealand market. InvestingPro analysis reveals the company’s strong financial position, with liquid assets exceeding short-term obligations and a 41-year track record of consistent dividend payments. For detailed insights and more exclusive metrics about AJG’s financial performance and growth potential, investors can access the comprehensive Pro Research Report available on InvestingPro.
The information reported is based on a press release statement from Arthur J. Gallagher & Co.
In other recent news, Arthur J. Gallagher & Co. reported a notable increase in its financial performance, with fourth-quarter earnings per share rising to $2.13 from $1.82 in the previous year, surpassing the consensus estimate of $2.03. The company’s revenue grew by 12.3%, and pre-tax margins expanded to 30.1%, reflecting strong operational efficiency. CFRA analyst Catherine Seifert raised the price target for Gallagher to $345, maintaining a Buy rating, citing the firm’s robust earnings and growth prospects. Gallagher has also been active in expanding its global footprint through several acquisitions. The company acquired Dyste Williams, a retail insurance agency in Minneapolis, enhancing its presence in the Upper Midwest. Additionally, Gallagher expanded in Brazil by acquiring the Case Group, a firm specializing in employee and health benefits solutions, and further strengthened its capabilities with the acquisition of Agilis Partners LLC, a consulting firm in Massachusetts. The acquisition of Dominick Falcone Agency and Falcone Associates in New York aims to bolster Gallagher’s retail brokerage capabilities in central New York. These strategic acquisitions align with Gallagher’s ongoing efforts to enhance its service offerings and market position globally.
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