Arthur J. Gallagher & Co. Acquires MGA Hanover Excess & Surplus, Inc.

Arthur J. Gallagher & Co. today announced the acquisition of Wilmington, N.C.-based Hanover Excess & Surplus, Inc. Terms of the transaction were not disclosed.

Source: AJG | Published on January 28, 2020

AIG and Stone Point Capital

Established in 1970, Hanover Excess & Surplus is a regional managing general agency offering hard-to-place coastal commercial and personal property/casualty coverages, as well as professional liability coverages, to clients across North Carolina, South Carolina, Virginia and Georgia. Matt Letson and his associates will continue to operate from their Wilmington location under the direction of Joel Cavaness, head of Risk Placement Services, Inc. (RPS), Gallagher's U.S. wholesale brokerage operation.

"Hanover Excess & Surplus will enhance our presence in North Carolina, and brings additional specialty market expertise and strong leadership capabilities to RPS," said J. Patrick Gallagher, Jr., Chairman, President and CEO of Arthur J. Gallagher & Co. "I am excited to welcome Matt and his associates to our growing global enterprise."

Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 49 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.