Arthur J. Gallagher & Co., an insurance brokerage based in Itasca, Ill., has bought Mortgage Insurance Agency Inc., Crystal Lake, Ill., a provider of surety bonds, errors & omissions coverage and fidelity bonds for mortgage brokers and mortgage bankers nationwide. Terms of the deal were not disclosed.
David J. Jackson, who founded Mortgage Insurance Agency in 1993, and his associates will continue to operate out of their current location and report to Thomas J. Gallagher, Midwest regional manager of Arthur J. Gallagher's retail/property casualty brokerage operation.
"One of the reasons our acquisition strategy is so successful is because we continue to find great businesses that can fit well within our unique culture and our areas of expertise, and Mortgage Insurance Agency is no exception. This agency has grown consistently over the years by providing exceptional value to its clients through its teamwork approach to quality service," said J. Patrick Gallagher, Jr., chairman, president and chief executive of Arthur J. Gallagher.
