• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Contact Us

Agency Checklists

Massachusetts Insurance News & Job Opportunities

You are here: Home / Insurance News | Massachusetts / Insurance Agencies | Mergers & Acquisitions / Gallagher Acquires AssuredPartners For $13.45 Billion

Gallagher Acquires AssuredPartners For $13.45 Billion

December 9, 2024 by AC Editor


In what can only be called the largest ever broker acquisition in the insurance industry, Arthur J. Gallagher has signed a definitive agreement to acquire AssurePartners in an all-cash deal valued at $13.45 billion. While the transaction is still subject to customary regulatory approvals, it is expected to close during the first half of 2025.

“When we started AssuredPartners, I could never have imagined how far we would come. What started as a small team with a big vision has grown into an extraordinary organization, built on a foundation dedicated to our clients, our culture, and our people,” said Jim Henderson, Chairman of AssuredPartners.  “I have watched the Gallagher culture thrive throughout my career. With Gallagher’s mutual client first mindset and underlying entrepreneurial spirit, I believe our employees, our clients, and our trading partners will be well served by putting these two amazing companies together.”

“We have held in high regard the fast-growing AssuredPartners franchise since its founding in 2011.  AssuredPartners’ entrepreneurial spirit, broad U.S. footprint and middle-market focus make them an ideal merger partner for Gallagher.  By further leveraging our deep industry verticals, investments in data and analytics, access to specialty products, our common systems and standardized service model, together we can provide even more value to clients and further position Gallagher for future growth,” said J. Patrick Gallagher, Jr., Chairman and CEO.  “I look forward to welcoming the 10,900 AssuredPartners colleagues to our growing Gallagher family of professionals.”

13 years of growth

Headquartered in Orlando, Florida, AssuredPartners was founded thirteen years ago as a GTCR Leaders Strategy™ partnership with 40-year insurance industry veteran Jim Henderson. The Leaders Strategy™ is an initiative started by the global private equity firm GTCR, to invest management leaders “…in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions.”

Since then, AssuredPartners, has grown into the 11th largest insurance broker in the U.S, with a team of 10,900 and offices throughout the U.S. and the U.K. One of the main factors of its explosive growth is through its strategic acquisitions, with the company having acquired over 500 businesses since its inception.

“Our collaboration with Jim, Randy and the team at AssuredPartners is a quintessential Leaders Strategy™ partnership, building an outstanding business alongside a world-class executive team,” said Aaron Cohen, Managing Director and Head of Financial Services & Technology at GTCR. “When we formed the partnership, the goal was to build a client-first culture at Assured, supported by a centralized best practice approach to technology, go-to-market and strong carrier relationships. Jim, Randy and the entire AssuredPartners team executed the thesis brilliantly, which is what has made the business so successful. We believe that Gallagher, with its strong service-oriented values, complementary business and geographic footprint, is the right home for AssuredPartners to continue on its path to broaden its suite of solutions and further improve client service.”

What this deal means for Gallagher

With the addition of AssuredPartners, Gallagher has catapulted itself to one of the leading brokerage firms in the world.

According to the company, among the many benefits of the acquisition are expected to include:

  • Financially attractive, with estimated double digit adjusted EPS accretion including the impact of synergies
  • Further expanding Gallagher’s retail middle-market property/casualty and employee benefits focus across the U.S.
  • Building on new business opportunities by leveraging Gallagher’s expertise, data and analytics and expansive product offerings
  • Deepening Gallagher’s capabilities across multiple niche practice groups, including Transportation, Energy, Healthcare, Government Contractors and Public Entity
  • Expanding the reach of Gallagher’s tuck-in M&A strategy
  • Creating opportunities for Gallagher’s wholesale, reinsurance and claims management businesses
  • Adding scale, expertise and talent to Gallagher in the U.K. and Ireland
  • Combining two highly compatible entrepreneurial, sales-based cultures, embedded in local communities and focused on growth and client service
  • Adding highly seasoned, experienced and proven insurance industry leaders to the Gallagher team

AssuredPartners’ Presence in Massachusetts

In Massachusetts, AssuredPartners has established its presence through its acquisition strategy. In 2020, the brokerage firm made two major acquisitions with the purchase of the 126-year-old WTPhelan & Co. Insurance Agency followed by its acquisition of People United Insurance Agency, a subsidiary of People’s United Bank. In 2021, it announced three further acquisitions: Fessenden & Sykes, The Joseph A. Glynn Insurance Agency, and the Lehrer & Madden Insurance Agency. In 2022, it announced its acquisition of the 150-year old Fred C. Church Insurance Agency. AssuredPartners most recent acquisition in Massachusetts was in October 2024 with its purchase of the Halstead Insurance Agency.

As for Gallagher it acquired one of Massachusetts largest independent insurance agencies, Eastern Insurance, in 2023.

Primary Sidebar

New Episode

MA Insurance Lawyers

SPONSORED

MA DOI Advertisements

Career News

AAU Announces Hire of Roderiques in Boston, MA

AAU Announces Hire of Roderiques in Boston, MA

MIB Elects New Chair, Vice Chair, and Directors to its Board

Plymouth Rock Home Assurance Corporation Names Colleen Finn as Chief Marketing Officer 

Plymouth Rock Home Assurance Corporation Names Colleen Finn as Chief Marketing Officer 

McDonnell Named President of Vermont Mutual Insurance Group

Mark J. McDonnell Elected Chair of the Board of Directors of Vermont Mutual

View More Career News

In Memoriam

In Memoriam: Rita Julia Messier, 1936-2025

In Memoriam: Rita Julia Messier, 1936-2025

In Memoriam: John J. Doyle Jr., 1942-2025

In Memoriam: Joseph Lombard, 98, Founder of Corinthian Insurance In Medway

Company News

RMV, AAA Northeast Promote Safe Driving for Teens Ahead of Summer

Arbella Insurance Foundation Launches Annual “Let’s Drive Out Hunger” Program to Raise Funds for Hunger Relief Programs Across New England

Arbella Insurance Foundation Launches Annual “Let’s Drive Out Hunger” Program to Raise Funds for Hunger Relief Programs Across New England

Progressive Drives Small Business Forward with $1 Million in Commercial Vehicle Grants

Agency Checklists, MA Insurance News, Mass. Insurance News, MA Life Insurance Companies, Boston Mutual

Boston Mutual Life Insurance Company’s Making An Impact Program Celebrates Seven Years of Giving Back

Footer

Agency Checklists

Contact us

We offer a variety of ways to get help promote your company or product.

Announcements
Email Sponsorships
Partnerships
Custom Collaborations

*Affiliate Disclosure

Please note that any of Agency Checklists’ articles might contain one or more affiliate links. This means that any subsequent purchase resulting from these links may result in a commission for us, but at no additional cost to you. For example, as an Amazon Associate, Agency Checklists earns a commission from all qualifying purchases. By working with affiliates we can continue to keep Agency Checklists subscription free. Thank you for your support.

Explore Our Archives

Copyright © 2025 · Agency Checklists · All rights reserved.

 

Loading Comments...