Arthur J. Gallagher & Co. [NYSE: AJG] has disclosed that it has purchased Bedford Hills, NY-based Lloyd Bedford Cox., Inc. (LBC). The firm has not uncovered the terms of the agreement. Arthur J. Gallagher & Co. has gained recognition as a global insurance brokerage, risk management, and consulting services firm. It is based in Rolling Meadows, Illinois.
Arthur J. Gallagher & Co has received a great reputation for its capability in providing evolving affluent and high-net-worth clients. This also offers the firm a chance to grow its high-net-worth practice in a key market. Shares of AJG surged 0.12% at the time of writing on Tuesday. The firm has recorded a total market capitalization of $30.13 billion at the time of writing.
Since its inception in 1921, Lloyd Bedford Cox., Inc. (LBC) has gained popularity as a fourth-generation retail insurance agency. It is offering broad insurance coverage, services, and risk assessment tools to high-net-worth individuals and families throughout the US, Europe, the Bahamas, and the Caribbean.
Furthermore, it has been disclosed that J. Jeffers Cox and his partners will remain in their current position under the guidance of Patrick Kennedy, head of Gallagher’s Eastern region retail property/casualty brokerage operations.