Arthur J. Gallagher expands with BMR Insurance acquisition

Global insurance brokerage Arthur J. Gallagher & Co. has acquired Tustin, California-based Murray Gardner Insurance Agency Inc., dba BMR Insurance, a retail insurance agency that serves commercial and personal lines clients primarily across Southern California.

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Terms of the transaction have not been disclosed.

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According to the announcement, BMR Insurance’s Principal, Gary Arch, along with his team will remain in their current location under the direction of Scott Firestone, who serves as head of Gallagher’s Southwest region retail property & casualty (P&C)  brokerage operations.

J. Patrick Gallagher, Jr., Chairman and CEO, commented on the acquisition: “BMR Insurance has a culture like our own and will expand our retail brokerage capabilities in Southern California. I am delighted to welcome Gary and his associates to Gallagher.”

Readers may recall, that Arthur J. Gallagher & Co signed a definitive agreement earlier this month to acquire AssuredPartners, a US insurance broker with client capabilities across commercial P&C specialty, employee benefits and personal lines, for a gross consideration of $13.45 billion from GTCR.

In fact, the transaction is considered the largest sale of a US insurance broker to a strategic acquiror in the history of the industry.

The transaction is subject to customary regulatory approvals and is expected to close during the first quarter of 2025.