On July 25, Arthur J. Gallagher & Co. announced that Vishal Jain, who currently oversees the company's service center operations, has been appointed Chief Service Officer. In this new role, he will lead Gallagher's ongoing efforts to enhance customer service while improving operational efficiency and quality across divisions. He will report directly to J. Patrick Gallagher, Jr., Chairman, President and Chief Executive Officer. In addition, the company's Board of Directors has appointed Mr. Jain a Corporate Vice President.
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On July 22, Arthur J. Gallagher & Co. announced that it signed an agreement to acquire the assets of Baker Tilly's Employee Benefits Solutions business, which has annualized revenues of approximately $11.5 million and is located in the United Kingdom. Other terms of the transaction were not disclosed. This agreement is subject to the satisfaction of certain conditions and the transaction is expected to close in the third quarter 2014.
On July 18, Arthur J. Gallagher & Co. announced the acquisition of Foundation Strategies, Inc. in Katy, Texas. Terms of the transaction were not disclosed.
On July 2, Arthur J. Gallagher & Co. announced that it has completed the acquisition of the Canadian insurance broker, Noraxis Capital Corporation.
Preview this month’s installment of Arthur J. Gallagher & Co.’s Pitfalls & Perils of 2014 focused on ten FMLA (Family and Medical Leave Act) issues impacting employers’ workforce planning needs now.
Arthur J. Gallagher & Co. will release its second quarter 2014 earnings after the market closes on Tuesday, July 29, 2014. A printer-friendly format will be available on the company's website shortly thereafter.
Every few days or each week lately, adverse weather continues to be reported in most areas throughout the U.S. It could be anything from drought-ridden areas at risk of wildfires or fires from lightning strikes to the Mid-Central Plains, Midwest and Southern region struggling to battle historic and nearly unmanageable flooding. Based up recent reports, there doesn't appear to be any relief in sight nor a break in this weather pattern anytime soon.
On June 24, Arthur J. Gallagher & Co. announced that the company has completed and funded a note purchase agreement for the private placement of $700 million of senior unsecured notes. The agreement provides for six series of notes with a weighted average coupon rate of 4.02% and maturities as follows: $50 million due in each of 2018, 2019 and 2020, $200 million due in 2023, $200 million due in 2025 and $150 million due in 2026. Further details regarding these notes are available in our Current Report on Form 8-K filed with the SEC.
On June 13, Arthur J. Gallagher & Co. announced the acquisition of The Plus Companies, Inc. in Bridgewater, New Jersey. Terms of the transaction were not disclosed.
On June 11, Arthur J. Gallagher & Co. announced the acquisition of Tri-State General of Salisbury, Maryland. Terms of the transaction were not disclosed.