Arthur J. Gallagher & Co. (AJG) announced it has signed a definitive agreement to acquire Natick, Massachusetts-based Eastern Insurance Group, a subsidiary of Eastern Bank. The transaction is subject to regulatory approval and is expected to close during the Q4. Eastern Insurance offers comprehensive commercial property/casualty and personal lines products as well as employee benefits consulting to clients throughout the Northeast US. Tim Lodge and his team will remain in their current location under the direction of Patrick Kennedy, head of Gallagher’s Northeast region retail property/casualty brokerage operations, and John Neumaier, head of Gallagher’s East region employee benefits consulting and brokerage operations.
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