International Insurer Acquires R.G. Speno

CUPERTINO, CA-International insurer Arthur J. Gallagher & Co. acquired three insurance companies this week, including R.G. Speno, Inc. Insurance Brokerage, of Cupertino, CA. Terms of the transactions were not disclosed.R.G. Speno has been providing commercial property/casualty, surety and risk management products for the construction industry since the mid-1970s.

Ronald Speno and his staff will continue to operate out of their offices in Cupertino under the direction of Thomas Gallagher, president of Gallagher subsidiary Lamberson, Koster & Co.The acquisition was part of a three-company purchase that included Atlantic Risk Management Corp., of Baltimore and Murphy Consultants of Elgin, IL.

Arthur J. Gallagher & Co. is an international insurance brokerage and risk management services firm with offices in nine countries. The publicly-traded company’s share price, which closed at $53.25 Thursday, hit a new 52-week high today, trading up to $57.9375 before leveling off around $56.9375.