Arthur J Gallagher, an insurance brokerage and risk management services firm based in Illinois, has acquired Tudor Risk Services of Woburn, Massachusetts to further strengthen its presence in the region.
Financial terms of the transaction have not been disclosed by the parties.
Under the terms of the transaction, William Frain, Thomas Porell and their colleagues will continue to operate under the direction of Douglas Brown, head of Gallagher’s northeastern retail property/casualty brokerage operations and David Ziegler, head of Gallagher’s eastern employee benefit consulting and brokerage operations.
Arthur J Gallagher chairman, president and CEO, Patrick Gallagher, said: "Tudor’s northeastern presence and expertise will be a terrific complement to our property/casualty and employee benefits brokerage operations.
Founded in 2009, Tudor Risk Services is a retail insurance broker which offers property/casualty, risk management services and employee benefits insurance and consulting services.
The company provides all lines of property and casualty insurance coverage, group health, welfare and wellness plans, and employee benefits consulting services for their commercial and high-net-worth clients throughout the northeastern US.