Arthur J. Gallagher & Co. announced the purchase Monday of Alternative Market Specialists headquartered in Edina, Minn.
The transaction's terms were not disclosed.
Alternative Market Specialists is a managing general agent and wholesale insurance broker providing insurance products for independent insurance agents and brokers nationwide, according to Gallagher, an Itasca, Ill., insurance brokerage company. The Minnesota firm specializes in producing, underwriting, and placing public entity accounts that desire a protected self-insured program.
Michael Vaughan-Fowler and his associates will continue to operate from their current offices in Atlanta, Nashville, Edina, and London under the direction of Joel Cavaness, the president of Risk Placement Services Inc., a unit of the Gallagher firm.
Gallagher has operations in seven countries and does business in more than 110 countries through a network of correspondent brokers and consultants.
