Arthur J. Gallagher & Co. has acquired Affiliated Benefit Consultants in Oakbrook, IL.
Terms of the transaction were not disclosed.
Affiliated Benefit Consultants, founded 1986, provides a range of benefits consulting services to clients throughout the US.
Following the transaction, Affiliated Benefit Consultants president John Araujo and his associates will continue to operate in their current location under the direction of Gallagher Great Lakes region employee benefits consulting and brokerage operations head Tom Lannen.
According to Patrick Gallagher, Jr. – chairman, president and CEO of Gallagher – Affiliated Benefit Consultants is a “growth-oriented” benefit consultant with a stellar reputation and a culture that greatly resembles Gallagher’s.
The acquisition comes after Gallagher posted its Q4 and full year earnings for 2019. The global insurance brokerage’s net earnings result for last year was $715.8 million, compared to $675.9 million in 2018.
Source: Insurance Business America Magazine