Arthur J. Gallagher & Co. has acquired the broker G.A. Mavon & Co. and its subsidiary Mavco Insurance Agency.
The terms of the transaction were not disclosed.
Based in Hinsdale, IL, G.A. Mavon & Co. is a fourth-generation, family-run, standard and specialty lines wholesale broker founded in 1916. Meanwhile, its subsidiary Mavco Insurance Agency was founded in 1972. Together, the firms serve the insurance needs of high-net-worth personal lines clients and commercial business owners, with a specialty focus on professional lines.
Following the acquisition, G.A. Mavon owner and president Phil Mavon and his associates will continue to operate from their current location under the supervision of Risk Placement Services VP of Central binding region, and Gallagher VP of US wholesale brokerage, binding authority and programs division Matt Lynch, as well as Gallagher US retail P&C brokerage operations president of personal lines Jeff Saunders.
"G.A. Mavon and Mavco Insurance Agency are well-respected businesses with a similar culture to ours that will expand our high-net-worth offerings in the Midwest region," commented Gallagher chairman, president, and CEO J. Patrick Gallagher, Jr. "We are very pleased to welcome Phil and his associates to our rapidly growing team."
Read more: Gallagher swoops for Arkansas agency
In December, Gallagher acquired the Robbi Davis Agency (RDA), a full-service insurance agency based in Little Rock, AR. Founded in 1996, RDA specializes in employee benefits, Medicare supplement/drug plans and individual health insurance, with a focus on small group businesses.
