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Arthur J. Gallagher to acquire Michigan-based independent insurance agency

Arthur J. Gallagher & Co. will acquire Bloomfield Hills, Mich.-based LSG Insurance Partners.

The transaction is expected to close in the fourth quarter, subject to customary closing conditions.

LSG Insurance Partners' Jay Schreibman, Todd Preston and their associates will continue to operate from their Bloomfield Hills and Milwaukee branch locations.

The target is an independent insurance, risk management and consulting services agency. It offers employee benefits, commercial property and casualty, private client, and merger and acquisition services and coverages to clients throughout the Midwest and across the U.S.