Arthur J. Gallagher & Co. today announced the acquisition of Urbandale, Iowa-based Partners Advantage Insurance Services, LLC and AMZ Financial Insurance Services, LLC, wholly owned subsidiaries of Inversion Holding Company LLC. Terms of the transaction were not disclosed.

Together, Partners Advantage and AMZ Financial rank among the largest independent life insurance wholesale brokerage operations in the country. They offer a diverse and comprehensive mix of individual products – including annuities, life insurance and linked benefits – to independent financial professionals, agencies and institutions across the United StatesScott TietzAllie MillerJason Konopik  and their associates will continue to operate from their current locations in Urbandale and in IrvineRiverside and El Dorado Hills, California, under the direction of  Jeff Leonard , Gallagher's North America Financial & Retirement Services Leader, and  John Neumaier , head of Gallagher's Great Lakes Region.

"This expands the network capabilities of our Financial & Retirement Services practice and deepens our service offerings by leveraging the leadership Partners Advantage has developed in its specialized wholesale space," said  J. Patrick Gallagher, Jr. , Chairman, President and CEO. "I am very pleased to welcome Scott, Allie, Jason and their associates to Gallagher."

"Our practice is dedicated to helping organizations and individuals achieve better financial wellbeing outcomes, and we are confident that this partnership will enable us to extend this expertise and commitment to additional clients and prospects," added  Jeff Leonard . "We are excited that this outstanding team has joined Gallagher and we look forward to their contributions."

"Our independent insurance distributors will continue to enjoy quality service and access to products," said  Scott Tietz , CEO of Partners Advantage. "With the additional resources we gain as part of Gallagher, we anticipate great opportunities for our distributors in the future."

Investors: Ray Iardella

Media: Linda J. Collins

VP – Investor Relations

VP – Corporate Communications