Arthur J. Gallagher & Co. Acquires Minority Interest In Casanueva Perez S.A.P. de C.V. (Grupo CP)
ITASCA, Ill., Dec. 13, 2012 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced that it has acquired a 21.3% interest in Grupo CP, headquartered in Mexico City, Mexico. Terms of the transaction were not disclosed.
Grupo CP is a leading Mexican insurance broker and risk management company. They offer commercial retail property/casualty, risk management, affinity, reinsurance and employee benefits services to their clients throughout Mexico through their major brands of Interproteccion, Reasinter, Seguro Listo, and Aterna. Their team of 325 employees operates from offices in Mexico City, Celaya, Hermosillo, Monterrey and Torreon.
"Grupo CP's operations are highly regarded and well respected in the Mexican market, and for many years, we have had a very successful correspondent trading relationship with them," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "Taking the next step into a strategic partnership broadens our international presence, offers our clients an increased spectrum of services and geographic coverage throughout Mexico, and aligns our future interests and ambitions for Latin America. We are pleased that Grupo CP has chosen Gallagher as a partner and look forward to growing this rewarding relationship."
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 18 countries and provides client capabilities in more than 110 countries around the world through a network of correspondent brokers and consultants.
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SOURCE Arthur J. Gallagher & Co.