Shelton-headquartered Merit Insurance Inc. was acquired by Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm headquartered in Rolling Meadows, Illinois. The terms of the acquisition were not disclosed.
Merit Insurance is a retail property/casualty broker and employee benefits consultant that focuses on a Northeast client base consisting of contractors, public entities, real estate developers, nonprofits and high-net-worth individuals. The company has been operating since 1936 and has a second office based in Bridgeport.
The Merit Insurance team, led by President Sean Carroll and Executive Vice President and Managing Partner James Benson, will continue under the direction of Patrick Kennedy, head of Gallagher’s Northeast region retail property/casualty brokerage operations, and Tom Belmont, Jr., head of Gallagher’s Northeast Atlantic employee benefits consulting and brokerage operations.
“Merit Insurance is a highly regarded, socially responsible firm that enhances our presence in Fairfield County and brings us complementary strengths in a number of areas,” said J. Patrick Gallagher Jr., chairman, president and CEO at Arthur J. Gallagher & Co. “I am delighted to welcome Sean, Jim and their associates to Gallagher.”