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Arthur J. Gallagher Purchases Broker Fish & Schulkamp

Source: AP

Posted on 26 May 2011

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Global insurance brokerage Arthur J. Gallagher & Co. on Wednesday said that it bought a Madison, Wisconsin-based retail insurance broker, its second acquisition in as many days.

The terms of the purchase of Fish & Schulkamp Inc. were not disclosed.

The buyout follows Tuesday's announcement that the Itasca, Ill., company bought Singapore-based ITI Solutions Pte., a specialist broker which will be renamed Gallagher Singapore.

This week's acquisitions represent the two latest in a multi-year, multinational buying spree. Gallagher has bought dozens of firms in the U.S. and abroad in recent years, including four companies in the first quarter and 18 in 2010, according to financial reports. It has operations in 16 countries and does business in more than 110 countries.

Gallagher said Fish & Schulkamp will continue to be operated by Eric Olson in its Madison location, under the direction of Thomas Gallagher, Midwest regional manager of the company's retail property/casualty brokerage operation.