Arthur J. Gallagher & Co. Acquires Tropp & Company

ITASCA, Ill., May 10 /PRNewswire-FirstCall/ -- Arthur J. Gallagher & Co. today announced the acquisition of Tropp & Company headquartered in Lake Forest, Illinois. Terms of the transaction were not disclosed.

Formed in 1981, Tropp & Company is a retail insurance broker offering risk management, commercial property, casualty and employee benefits insurance services to an international client base. They specialize in insurance products for venture capital and private equity firms; high net worth individuals; and railroad, manufacturing, aviation and construction industries. With the exception of their Mendota, Illinois operations, which will continue at their present location, all Tropp & Company employees will relocate to Gallagher's offices in Itasca, Illinois. Thomas J. Tropp, Daniel M. Tropp and their associates will operate under the direction of Thomas J. Gallagher, Mid-West Regional Manager of Gallagher's Brokerage Services Retail Division.

"Tropp & Company's outstanding teamwork and personalized client service fits perfectly within our sales-based culture," said J. Patrick Gallagher, Jr., Chairman, President and CEO of Arthur J. Gallagher & Co. "In addition, their areas of expertise will be a wonderful complement to our midwest niche specialization strategy. We are extremely pleased to welcome Tom, Dan and their associates to our growing Gallagher family of professionals."

Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in seven countries and does business in more than 100 countries around the world through a network of correspondent brokers and consultants. Gallagher is traded on the New York Stock Exchange under the symbol AJG.