NYSE-listed Arthur J. Gallagher & Co. has acquired Treiber Group LLC and Treiber Agency Group LLC, both located in Garden City, New York, for an undisclosed amount.

The Treiber Group LLC is a retail insurance broker offering risk management, commercial and personal property/casualty, life and health insurance services to their clients in the New York tri-state area. The group specialize in construction, surety, healthcare, executive risk and workers compensation insurance coverages.

While, Treiber Agency Group LLC is a wholesale insurance broker offering excess and surplus property/casualty coverage and other specialty insurance products and services to their independent retail agency clients throughout the Northeast.

An official release stated that, the Treiber agencies will continue to operate in their current Long Island location under the direction of H. Craig Treiber, Peter Treiber, John Treiber, Scott Treiber, John Paterno, and Lou Roca.

Headquartered in Itasca, Illinois Arthur J. Gallagher & Co., together with its subsidiaries, provides insurance brokerage, and third-party claims settlement and administration services.

The company has operations in 14 countries and offer business services in more than 100 countries around the world through a network of correspondent brokers and consultants.

The shares of Arthur J. Gallagher finally settled the day at $23.71 on NYSE, down 4% compared to previous close of $24.73. (Tuesday)