Arthur J. Gallagher & Co. has introduced that it has acquired North Carolina-based PIUS Limited and its affiliate, Newlight Capital. The phrases of the transaction weren’t disclosed.
Founded in 2016, PIUS (Patent Insurance Underwriting Services) is a managing normal agent that provides a proprietary insurance coverage product permitting purchasers to insure sure mental property property.
PIUS founder and CEO Joe Agiato and his associates will stay of their present places. They will report back to Patrick Kennedy, head of Gallagher’s Northeast area retail property-casualty brokerage operations.
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“PIUS’s unique offering of insurance solutions to emerging companies that have substantial intellectual property assets is a critical product that enables clients significant opportunities for growth,” mentioned J. Patrick Gallagher Jr., chairman, president and CEO of Gallagher. “I am delighted to welcome Joe and his team to Gallagher.”