Arthur J. Gallagher & Co. Acquires Cornerstone Commercial & Personal Insurance Services, Inc.

PR Newswire

ROLLING MEADOWS, Ill. , July 1, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Rancho Cucamonga, California -based Cornerstone Commercial & Personal Insurance Services, Inc. (Cornerstone). Terms of the transaction were not disclosed.

Cornerstone is a retail insurance agency serving commercial and personal clients primarily in San Bernardino and Riverside counties, with a focus on commercial real estate, construction and homeowners associations. Phil Hakopian , Allison Hakopian and their team will remain in their current location under the direction of Scott Firestone , head of Gallagher's Southwest region retail property/casualty brokerage operations.

"Cornerstone is a highly regarded agency whose expertise in the homeowners association niche will enhance our capabilities in the region," said J. Patrick Gallagher, Jr. , Chairman and CEO. "I am delighted to welcome Phil, Allison and their 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 . Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.

SOURCE Arthur J. Gallagher & Co.