Arthur J Gallagher acquires Chicago captive consultant
Arthur J Gallagher has entered into an agreement to acquire Captive Insurance Company Design and Operations, a Chicago-based captive consultant formed by Clarity Group in 2002, with a focus on medical and professional liability.
Captive Insurance Company Design and Operations' clients include healthcare providers for various areas of the industry in the US, including medical facilities, physicians and senior care organisations.
As part of this deal, Andrew Becker, vice president of insurance operations at Clarity Group, will relocate with his associates to Gallagher's office in Rolling Meadows, Illinois, under the direction of Patrick Gallagher, head of Gallagher's Midwest retail property/casualty brokerage operations.
"Andrew and his associates bring us a significant depth of captive management expertise in the medical and professional liability and healthcare space, which aligns well with and will strengthen Gallagher's existing expertise in this practice area," said J Patrick Gallagher Jr, chairman, president and CEO. "I am very pleased to welcome them to Gallagher."
Arthur J Gallagher and its subsidiary Artex Risk Solutions were recently involved in a lawsuit alleging they had conspired with other defendants to design, promote, sell, implement and manage illegal tax-advantaged captive insurance strategies using unlawful attempted 831(b) elections.