Illinois-based Arthur J. Gallagher & Co. has scooped up a Connecticut insurance firm.
The company announced earlier this week that it has acquired Shelton, Connecticut-based Merit Insurance, Inc, which also has an office in Bridgeport. Terms of the transaction were not disclosed.
Founded in 1950, Merit Insurance is a retail property and casualty broker and employee benefits consulting firm, offering a broad range of coverages and services to clients across the Northeast.
Areas of focus include contractors, public entities, real estate developers, nonprofits and high-net-worth clients. Merit President Sean Carroll, Managing Partner James Benson and their associates will continue to operate from their current locations under the direction of Patrick Kennedy and Tom Belmont, Jr., head of Gallagher’s Northeast employee benefits and region retail property and casualty brokerage operations.
“Merit Insurance is a highly regarded, socially responsible firm that enhances our presence in Fairfield County and brings us complementary strengths in a number of areas,” J. Patrick Gallagher, Jr., chairman, president and CEO, said in a statement. “I am delighted to welcome Sean, Jim and their associates to Gallagher.”