Arthur J. Gallagher & Co. Acquires KDC Associates, LLC
Apr 18, 2016
14:30 ET from Arthur J. Gallagher & Co.
ITASCA, Ill., April 18, 2016 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG ) today announced the acquisition of KDC Associates, LLC in Las Vegas, Nevada. Terms of the transaction were not disclosed. With a history dating back to 2008, KDC Associates (KDC) is a managing general agent and program manager which provides admitted and excess and surplus, property/casualty and other specialty insurance products and services to independent retail insurance broker clients. They specialize in the automobile, manufacturing, commercial construction, wholesale, hotels and property owner industries. Kevin Lay and his associates will continue to operate from their current location under the direction of Joel Cavaness, President of Risk Placement Services, Inc., a subsidiary of Arthur J. Gallagher & Co.
"KDC is widely respected in the industry for its strong limited distribution retail network, depth of experience, and dedication to client service. Not only do they add to our wholesale geographic footprint, but their talented sales team brings with it years of specialty product knowledge which enables them to handle and match hard to place risks," said J. Patrick Gallagher, Jr., President and CEO. "Their market relationships and expertise will be a wonderful complement to our expanding wholesale network, and we are extremely pleased to welcome Kevin and his colleagues to our growing Risk Placement Services' family of professionals. "
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 31 countries and offers client-service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants. Investors: Marsha J. Akin