KALAMAZOO — Insurance broker First Agency Inc. has sold to Rolling Meadows, Ill.-based Arthur J. Gallagher & Co.
First Agency of Kalamazoo offers blanket student and athletic accident coverage, such as sports camps or special risk insurance, to colleges and K-12 schools. The agency provides claims administration, issues policies for several insurers, and sells specialty coverages directly to individual students via its website.
With the deal, First Agency staff remains and the firm will continue to operate from its current location on West H Avenue in Kalamazoo, according to a statement. Terms of the transaction were not disclosed.
“First Agency deepens our student accident and special risk expertise in the greater Midwest and provides exclusive products, underwriting and accident claims expertise to our K-12 and higher education clients,” stated J. Patrick Gallagher Jr., chairman, president and CEO of A.J. Gallagher.
Arthur J. Gallagher & Co. (NYSE: AJG) has operations in 35 countries and has been one of the top acquirers on insurance brokers in the U.S. Through the first three quarters of 2018, the company closed 23 acquisitions, according to Optis Partners LLC, a Chicago-based firm that tracks M&A activity on the insurance brokerage industry.