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ROLLING MEADOWS, Ill. - Arthur J. Gallagher & Co., the global insurance brokerage and risk management services firm, has expanded its operations with the acquisition of Imbs Holdings, Inc., a retail insurance broker based in St. Louis, Missouri. The terms of the transaction, announced today, were not disclosed.
Imbs Holdings specializes in providing commercial and personal insurance services to clients across the United States. Following the acquisition, the Imbs team, led by Chris Imbs, will join Gallagher’s South Central retail property/casualty brokerage operations under the leadership of Bret VanderVoort. According to InvestingPro data, Gallagher’s revenue grew by 14.3% in the last twelve months, demonstrating its successful expansion strategy.
J. Patrick Gallagher, Jr., the Chairman and CEO of Arthur J. Gallagher & Co., expressed enthusiasm about the acquisition, stating, "The Imbs team’s market expertise and outstanding client relationships will enhance our retail brokerage capabilities in the region." He also extended a warm welcome to Chris Imbs and his associates, who are now part of the Gallagher family.
Arthur J. Gallagher & Co. (NYSE:AJG) is headquartered in Rolling Meadows, Illinois, and operates in approximately 130 countries globally. The company provides a wide array of services, including insurance brokerage, risk management, and consulting, through a combination of owned operations and a network of correspondent brokers and consultants.
This strategic move by Arthur J. Gallagher & Co. is expected to bolster its service offerings and client base in the South Central region of the United States. The integration of Imbs Holdings into Gallagher’s extensive network marks a continuation of the company’s growth strategy, aiming to enhance its retail brokerage services.
The information for this news article is based on a press release statement from Arthur J. Gallagher & Co.
In other recent news, Arthur J. Gallagher & Co. has reported several significant developments. The company announced the acquisition of Tresidder Insurance Brokers, an Australian firm specializing in property and casualty brokerage services, as part of its strategic expansion in Australia. Additionally, Gallagher has acquired Litchfield Special Risks, Inc. (LSR), a Texas-based wholesale insurance broker, to strengthen its presence in the Southwest US. In terms of analyst ratings, Piper Sandler has maintained an Overweight rating with a price target of $350, citing positive guidance and margin expansion due to the delayed AssuredPartners acquisition. Keefe, Bruyette & Woods raised their price target to $314, maintaining a Market Perform rating, and noted expectations for organic growth and margin improvements. Evercore ISI also increased its price target to $352, maintaining an Outperform rating, while adjusting EPS estimates due to the delayed AP deal. These recent developments reflect Arthur J. Gallagher’s ongoing strategy of growth through strategic acquisitions and strong financial management.
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