Arthur J. Gallagher acquires Blue Holdings

Arthur J. Gallagher & Co. is set to buy insurance broker Blue Holdings Pty Ltd. for an undisclosed price.

The target company's chief executive, Richard Smith, will continue to run the company. Blue Holdings has offices across Australia, in Brisbane, Perth, Sydney, Melbourne and Townsville locations under the direction of Andrew Godden, head of Gallagher's Australian brokerage operation. The transaction is the latest example in what is a continuing consolidation of the insurance industry.