Arthur J. Gallagher & Co. Acquires Farallone Pacific Insurance Services, LLC
ROLLING MEADOWS, IL — Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Novato, California-based Farallone Pacific Insurance Services, LLC. Terms of the transaction were not disclosed.
Founded in 2004, Farallone Pacific is a retail property/casualty broker specializing in providing insurance and risk management solutions for nonprofits, schools, affordable housing and private clients. Dan Costello and his associates will continue to operate from their current location under the direction of Scott Firestone, head of Gallagher’s Southwest retail property/casualty brokerage operations.
“Farallone Pacific’s significant strengths in the nonprofit, affordable housing and charter school space are highly complementary with Gallagher’s own practices and represent a continuation of our expansion efforts in those areas,” said J. Patrick Gallagher, Jr., Chairman, President and CEO. “We are pleased to welcome Dan and his associates to our growing Gallagher family of professionals.”