Sherman & Company served as financial advisor to U.S. Risk Insurance Group, Inc., parent company of Professional Claims Managers, Inc.
ITASCA, Ill., May 22, 2012 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Professional Claims Managers, Inc. in Dallas, Texas. Terms of the transaction were not disclosed.
Formed in 1986, Professional Claims Managers (PCM) is a full service third party administrator that provides comprehensive claims and litigation management services to their domestic and foreign clients involved in the business of underwriting and managing loss. They specialize in complex programs such as healthcare liability, private detention liability, architects and engineers' errors and omissions, construction liability, law enforcement and public officials liability and miscellaneous professional liability. J. Brian Hobbs and his associates will continue to operate in their Dallas location under the direction of Robert E. Blasio, President of Western Litigation, Inc., a division of Arthur J. Gallagher & Co.'s retail property/casualty brokerage operation.
"Part of our acquisition strategy is to find partners that help expand our existing expertise, and PCM does just that. Over the last 26 years, their team has built a solid reputation for being highly experienced in specialized multi-jurisdictional litigation and claims management," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "PCM will be an excellent addition to our professional liability claims management and risk management consulting practice. We are pleased to welcome Brian and his team to our growing Gallagher family of professionals."
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 17 countries and offers client service capabilities in more than 110 countries around the world through a network of correspondent brokers and consultants.
Contact: Marsha J. Akin
Director - Investor Relations
SOURCE Arthur J. Gallagher & Co.