Arthur J. Gallagher & Co. expands with acquisition of Statewide Commercial Insurance Brokers

Arthur J. Gallagher & Co., a leading global insurance brokerage and risk management firm, has announced its latest acquisition: American Matar International, Inc., doing business as Statewide Commercial Insurance Brokers, based in Altadena, California. While the financial details remain confidential, this strategic move is seen as part of Gallagher’s broader plan to fortify its foothold in key U.S. regions.

Statewide Commercial Insurance Brokers has built a strong reputation as a retail property/casualty insurance agency, particularly serving construction contractors across California and other U.S. states. According to J. Patrick Gallagher, Jr., Chairman and CEO, Statewide’s specialized expertise is a perfect fit for Gallagher’s expanding retail brokerage operations in Southern California. The integration will be overseen by Scott Firestone, the head of the Southwest region for retail property/casualty at Gallagher.

The current leadership at Statewide, including Lana Matar and her team, will remain at their current office to maintain continuity and client relationships, underscoring Gallagher’s strategy of retaining expert teams for seamless operational integration.

This acquisition follows Gallagher’s recent purchase of Adept Benefits, LLC, based in Snoqualmie, Washington. Adept Benefits, specializing in health and benefits consulting, continues to operate under the leadership of Megan Narrance and reports to Charlie Isaacs, Gallagher’s West region head for employee benefits consulting. The financial aspects of this deal were similarly undisclosed.

Prior to this, Arthur J. Gallagher & Co. had also acquired Filos Agency, Inc., a Long Beach, New York-based retail property/casualty agency. Thomas Costantakos and his team at Filos Agency continue their operations as part of Gallagher Agency Alliance, under Jen Tadin’s direction, who leads Gallagher Select, the company’s small business property/casualty division in the U.S.

These acquisitions are part of Arthur J. Gallagher & Co.’s aggressive growth strategy, positioning it as a formidable player in insurance brokerage services with a robust regional presence.

Industry analysts suggest that Gallagher’s series of acquisitions signals a strong commitment to enhancing its service capabilities and expanding its geographic footprint, particularly in niche markets like construction insurance and employee benefits. This strategy not only diversifies Gallagher’s client base but also reinforces its competitive position across various regions in the United States.