Gallagher acquires Bollinger

A spokesperson for Arthur J. Gallagher & Co. would not confirm whether its purchase of Bollinger, Inc., of Short Hills, N.J., announced this week, was the broker’s largest single purchase ever. But the $100 million in annualized revenue Gallagher expects, according to a press release about the transaction, apparently eclipses the average for that category over the last five years by a factor of nearly 18.

Gallagher, the third largest U.S. insurance broker, reportedly paid $276.5 million in cash and stock for Bollinger, the nation’s 21st largest broker. Rankings are according to Business Insurance magazine revenue analysis for 2012.