Arthur J. Gallagher & Co. announced that its U.S. wholesale brokerage, binding authority and programs division, Risk Placement Services, Inc. (RPS), has acquired Pennsylvania-based McKee Risk Management, Inc. Financial terms of the transaction were not disclosed.
Based in King of Prussia, Pennsylvania, McKee Risk Management operates as a program administrator providing underwriting, policy administration, claims coordination and risk management services. The company focuses on construction, public entity and property programs.
Following the acquisition, Clyde McKee III, Clyde McKee IV and the broader McKee team will operate under RPS’s program administration division.
The acquisition strengthens RPS’s program administration platform and expands its underwriting capabilities across specialty insurance sectors. Arthur J. Gallagher & Co. said the addition of McKee Risk Management aligns with the company’s strategy of growing its global insurance brokerage and risk management operations through targeted acquisitions.
Arthur J. Gallagher & Co., which trades on the NYSE under the ticker AJG, is headquartered in Rolling Meadows, Illinois. The company provides insurance brokerage, risk management and consulting services in approximately 130 countries through owned operations and a network of correspondent brokers and consultants.
KEY QUOTE:
“McKee Risk Management brings a well-established platform and underwriting expertise that complement RPS’s programs offerings. I am delighted to welcome the McKee team to our growing, global family of professionals.”
J. Patrick Gallagher, Jr., Chairman and CEO, Arthur J. Gallagher & Co.
