Arthur J. Gallagher & Co. Thursday said it has acquired Portland, Oregon-based Durham & Bates Agencies Inc.
Terms of the transaction were not disclosed.
Durham & Bates provides property/casualty, marine and employee benefits services to clients in the Pacific Northwest, Gallagher said in a statement.
The brokerage has approximately 30 employees, according to an email from a spokesman.
Jeremy Andersen, Sean McCarthy, Christen Picot, Stephanie Murphy and David Hearns will remain in their current location under the direction of Jim Buckley, head of Gallagher’s Northwest region retail property/casualty brokerage operations, and Charlie Isaacs, head of Gallagher’s West region employee benefits consulting operations, the statement said.
J. Patrick Gallagher Jr., chairman and CEO, said in the statement Durham & Bates’ marine expertise provides opportunities for growth.
Rolling Meadows, Illinois-based Gallagher is the third-largest broker of U.S. business, according to the most recent Business Insurance rankings.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.