Remco Insurance, a well-known auto insurance provider primarily serving Texas, is owned by Arthur J. Gallagher & Co. This acquisition was completed through Gallagher’s subsidiary, Risk Placement Services, Inc.
(RPS), in January 2023. This strategic purchase expanded Gallagher’s footprint in the Texas market, enhancing their portfolio in the non-standard auto insurance sector.
Arthur J. Gallagher & Co., headquartered in Rolling Meadows, Illinois, is a global insurance brokerage and risk management services firm operating in around 130 countries. The acquisition of Remco Insurance Agencies, Inc., which was founded in 1987, aligns with Gallagher’s growth strategy and commitment to providing comprehensive insurance solutions.
The history of Remco Insurance traces back to its inception as a retail non-standard auto insurance agency. It was known for its strong market expertise in the Texas region. The company had been led by Rahim Peerbhai, who, along with his team, continued to operate under the new ownership, ensuring continuity and maintaining the relationships and service standards that Remco’s clients had come to expect.
This acquisition is part of Gallagher’s broader strategy to enhance its service offerings and market presence by integrating companies that complement its existing operations. Remco Insurance’s established reputation and market knowledge significantly benefit Gallagher’s expansion plans, allowing them to better serve the non-standard auto insurance market in Texas.
For more detailed information, you can visit sources such as MarketScreener and PR Newswire, which provide in-depth coverage of the acquisition and its implications for both companies.