Arthur J. Gallagher & Co. (AJG), Monday announced the acquisition of remaining stake in Philippines-based Philpacific Insurance Brokers & Managers, Inc. dba Philinsure. The financial terms of the deal were not disclosed.
The company expects Philinsure, a commercial insurance and reinsurance broker, to expand its retail brokerage business in Asia.
In the pre-market hours, Arthur J. Gallagher & Co.'s stock is trading at $323.61, down 0.12 percent on the New York Stock Exchange.
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