Arthur J. Gallagher & Co. acquires CCI Surety to expand wholesale surety offerings
Arthur J. Gallagher & Co., a prominent global insurance brokerage and risk management services firm, has expanded its market footprint through the acquisition of CCI Surety, Inc., a specialist in wholesale contract and commercial surety bonds based in Golden Valley, Minnesota. The terms of the transaction have not been disclosed, reflecting the confidentiality typically associated with such business deals.
Enhancing RPS’s Product Offerings
This acquisition by Arthur J. Gallagher & Co.’s division, Risk Placement Services, Inc. (RPS), is a strategic move to broaden its service capabilities in the surety market. CCI Surety, Inc., under the leadership of Jeremy Crawford and founded by Michael Williams, has made significant strides in providing specialized surety bonds for retail agents across the United States. The inclusion of CCI Surety into the RPS portfolio not only enhances its product offerings but also solidifies its position in the market.
Continued Operations and Leadership
Post-acquisition, Jeremy Crawford and his team at CCI Surety will continue to operate from their current location in Golden Valley, under the leadership of Matt Lynch, head of RPS’s national binding operations. This decision underscores a seamless transition and the intention to preserve the operational integrity and customer relationships that CCI Surety has established.
Corporate Statements and Future Outlook
J. Patrick Gallagher, Jr., Chairman and CEO of Arthur J. Gallagher & Co., expressed his satisfaction with the acquisition, noting the alignment of CCI Surety’s offerings with RPS’s growth objectives. “CCI Surety is a well-established agency whose wholesale surety platform expands RPS’s product offerings,” Gallagher commented. This acquisition is anticipated to play a crucial role in the continued growth and diversification of Arthur J. Gallagher & Co.’s services worldwide.
With this strategic acquisition, Arthur J. Gallagher & Co. not only expands its service offerings but also strengthens its competitive edge in the insurance and risk management industry. The move is expected to bring about positive developments in service delivery and customer engagement, reinforcing the company’s commitment to excellence and innovation in the global market.