Arthur J. Gallagher & Co. Acquires G.A. Mavon & Co. and Mavco Insurance Agency, Inc.
PR Newswire
ROLLING MEADOWS, Ill. , April 19, 2022 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Hinsdale, IL -based G.A. Mavon & Co. and its Mavco Insurance Agency, Inc. subsidiary. Terms of the transaction were not disclosed.
Founded in 1916, G.A. Mavon & Co. is a fourth-generation, family-run, standard and specialty lines wholesale broker. Mavco Insurance Agency, founded in 1972, is its retail insurance agency subsidiary. Both firms serve the insurance needs of high-net-worth personal lines clients, as well as commercial business owners, with a focus on professional lines. Phil Mavon and his associates will continue to operate from their current location under the direction of Matt Lynch , VP-Central Binding Region for Risk Placement Services, Inc., Gallagher's US wholesale brokerage, binding authority and programs division, and Jeff Saunders , President of Personal Lines for Gallagher's US retail property/casualty brokerage operations.
"G.A. Mavon and Mavco Insurance Agency are well-respected businesses with a similar culture to ours that will expand our high-net-worth offerings in the Midwest region," said J. Patrick Gallagher, Jr. , Chairman, President and CEO. "We are very pleased to welcome Phil and his associates to our rapidly growing team."
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 68 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
Investors: Ray Iardella | Media: Linda J. Collins |
VP - Investor Relations | VP- Corporate Communications |
630-285-3661/ ray_iardella@ajg.com | 630-285-4009/ linda_collins@ajg.com |
SOURCE Arthur J. Gallagher & Co.