Arthur J. Gallagher & Co. Acquires Illinois-based Insurance Broker
- July 09, 2018
Arthur J. Gallagher & Co. Acquires Reassurance Holdings, Inc. (Coverdell)
ROLLING MEADOWS, IL -- Arthur J. Gallagher & Co. announced the acquisition of 100% of the equity interest of Chicago, Illinois-based Reassurance Holdings, Inc., including its subsidiaries Coverdell & Co., Inc. and Carefree Marketing, Inc. (collectively referred to as "Coverdell"). Terms of the transaction were not disclosed.
Founded in 1963, Coverdell is a licensed insurance broker, discount medical plan organization and third-party administrator, providing direct marketing of insurance and membership programs to many of the largest financial services institutions in the United States and Canada. Vince Di Benedetto and his associates will continue to operate from their current location under the direction of Kevin Garvin, head of Gallagher's North American Affinity Operations.
"Coverdell brings to Gallagher cutting-edge marketing strategies and expertise across multiple distribution channels. They possess deep marketing and administration capabilities and expand the offerings we can make available to our existing affinity clients," Mr. Garvin said.
"As Gallagher's largest affinity operation in North America, Coverdell enhances our existing strengths in targeting an important and growing customer base," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am very pleased to welcome Vince and his associates to our growing Gallagher family of professionals."