Arthur J. Gallagher & Co. Acquires University Services Business of Garnett-Powers & Associates Insurance Services, Inc.
ROLLING MEADOWS, IL — Arthur J. Gallagher & Co. announced the acquisition of the University Services business of Mission Viejo, California-based benefits broker and consultant Garnett-Powers & Associates Insurance Services, Inc. Terms of the transaction were not disclosed.
Established in 1996, Garnett-Powers & Associates’ University Services business offers medical, dental, vision, life, AD&D and disability insurance plans to university postdoctoral scholars and visiting scholars. They also offer health insurance plans to university students. Their proprietary software automates the process, providing a customized enrollment suite, benefits administration and file transfer services for clients and plan participants. Steve Johnson and his associates will continue to operate from their current location under the direction of Norbert Chung, head of Gallagher’s Western region employee benefit consulting and brokerage operations.
“Garnett-Powers & Associates’ University Services business adds a unique and vital link to our already strong Higher Education practice, while also bringing a unique platform to customize the enrollment process,” said J. Patrick Gallagher, Jr., Chairman, President and CEO. “I am very pleased to welcome Steve and his 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. The company has operations in 35 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.