Arthur J. Gallagher & Co. today announced the acquisition of Abilene, Texas-based CBS Insurance, LLP. Terms of the transaction were not disclosed.
Founded in 1992, CBS Insurance is a retail insurance agency providing property/casualty and health/benefits coverages to clients throughout Texas and the surrounding region. Peter Lauve, Steve Senter and their partners and associates will remain in their current location under the direction of Bret VanderVoort, head of Gallagher's South Central retail property/casualty brokerage operations.
"CBS Insurance is a well-regarded insurance agency with a strong growth record that expands our retail insurance and consulting capabilities in Texas," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am very pleased to welcome Peter, Steve and their team to Gallagher."
Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.