Insurance news
Arthur J. Gallagher & Co. is further expanding its M&A portfolio with the inclusion of Shelton & Alderson Insurance Agency, Inc.
The retail agency based in Virginia operates under the name FarmPLUS Insurance Services. He specializes in agricultural and crop insurance and serves clients in Virginia, North Carolina, and South Carolina.
As part of the acquisition, the FarmPLUS team, including founders Tim Alderson and Amy Alderson, will continue to operate from their current location in Blairs.
They will operate under the leadership of Bumpy Trich, who heads Gallagher’s Southeast retail brokerage operations.
Chairman and CEO J. Patrick Gallagher, Jr. commented on the deal in the new release, saying the addition of FarmPLUS will expand Gallagher’s agricultural market capabilities.
“I am delighted to welcome Tim, Amy, and their colleagues to Gallagher,” he added.
In other recent news, the brokerage giant revealed its results for the fourth quarter of 2023. It recorded a revenue of $2.05 billion, an increase from $1.7 billion in the corresponding period from the previous year.