Arthur J. Gallagher & Co. Acquires Peabody Insurance Agency, Inc.

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Nov 05, 2024, 09:00 ET

ROLLING MEADOWS, Ill., Nov. 5, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Fenton, Michigan-based Peabody Insurance Agency, Inc. (Peabody Insurance). Terms of the transaction were not disclosed.

Peabody Insurance is a retail insurance agency serving commercial and personal lines clients primarily in southeast Michigan with specializations in construction, manufacturing and multifamily real estate. Jim Peabody, Grace Peabody-Ljoljic, their family and team will remain in their current location under the direction of Sean Gallagher, head of Gallagher's Great Lakes region retail property/casualty brokerage operations.

"Peabody Insurance is a highly regarded agency with niche expertise that will enhance our retail brokerage capabilities in Michigan," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am delighted to welcome Jim, Grace, their family and 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.