Arthur J. Gallagher & Co. Acquires Cornerstone Commercial & Personal Insurance Services, Inc.

News provided by

Jul 01, 2024, 12:00 ET

ROLLING MEADOWS, Ill., July 1, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Rancho Cucamonga, California-based Cornerstone Commercial & Personal Insurance Services, Inc. (Cornerstone). Terms of the transaction were not disclosed.

Cornerstone is a retail insurance agency serving commercial and personal clients primarily in San Bernardino and Riverside counties, with a focus on commercial real estate, construction and homeowners associations. Phil Hakopian, Allison Hakopian and their team will remain in their current location under the direction of Scott Firestone, head of Gallagher's Southwest region retail property/casualty brokerage operations.

"Cornerstone is a highly regarded agency whose expertise in the homeowners association niche will enhance our capabilities in the region," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am delighted to welcome Phil, Allison and their associates 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.