Arthur J. Gallagher & Co. Acquires Air-Sur of Florida

Arthur J. Gallagher & Co. today announced the acquisition of Ormond Beach, Fla.-based Air-Sur, Inc. Terms of the transaction were not disclosed.

Founded in 1976, Air-Sur is a retail insurance broker serving clients in the aviation and aerospace industry. Its clients include air transport operators, service companies, component manufacturers, engine/airframe overhaul and modification centers, as well as general aviation operators. Thomas K. Coughlin and his associates will continue to operate from their current location under the direction of Scott Firestone, head of Gallagher's Southwest region retail property/casualty brokerage operations.

"The Air-Sur team has an outstanding market reputation, and deepens and expands our aerospace capabilities across Florida and the Southeast," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "We are delighted to welcome Tom and his associates to our growing, global team."

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.