Gallagher buys US marine broker Charter Lakes

Acquisitive US broking group Arthur J Gallagher has bought Charter Lakes Marine Insurance Agency for an undisclosed sum.

The company, headquartered in Michigan, operates as a retail broker, programme administrator and managing general agency specialising in personal and commercial marine products. Gallagher said Charter Lakes is one of the largest insurers of yachts, boats and passenger vessels in the USA.

Charter Lakes chief executive Dan Longman and his associates will continue to operate from their current locations under the direction of Thomas J Gallagher, head of Gallagher’s Midwest retail property/casualty brokerage operations.

Gallagher chief executive Patrick Gallagher said: “Charter Lakes is highly regarded throughout the marine industry for its personalised customer service capabilities, depth of expertise and solid market relationships. Their team-based sales culture, specialisation and geographic presence will be a terrific addition to our marine operations. We are very pleased to welcome Dan and his associates to our growing Gallagher family of professionals.”