Arthur J. Gallagher & Co. announced today the acquisition of PIUS Limited, LLC and its affiliate Newlight Capital, LLC, both based in Cary, North Carolina. The transaction’s terms were not disclosed.
PIUS (Patent Insurance Underwriting Services), founded in 2016, is a managing general agent that provides a proprietary insurance product that allows clients to insure certain intellectual property assets. Joe Agiato and his colleagues will continue to work in their current locations, reporting to Patrick Kennedy, the head of Gallagher’s Northeast region retail property/casualty brokerage operations.
“PIUS’ unique offering of insurance solutions to emerging companies with significant intellectual property assets is a critical product that provides clients with significant growth opportunities,” said J. Patrick Gallagher, Jr., Chairman, President, and CEO. “It gives me great pleasure to welcome Joe and his team to Gallagher.”
The headquarters of Arthur J. Gallagher & Co., a global insurance brokerage, risk management, and consulting services firm, are in Rolling Meadows, Illinois. Gallagher offers these services in approximately 130 countries through its own operations and a network of correspondent brokers and consultants.