ROLLING MEADOWS, Ill., May 29, 2018 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Simi Valley, California-based Thomas Costello Insurance Agency, Inc. Terms of the transaction were not disclosed.

Founded in 1990,Thomas Costello Insurance Agency is a retail property/casualty broker, and employee benefits consultant and broker, offering commercial and personal coverages to clients primarily across Southern California. Tom Costello and his associates will continue to operate from their current location under the direction of Scott Firestone, President of Gallagher's Southwest region retail property/casualty brokerage operations, and Norbert Chung, President of Gallagher's Western region employee benefits consulting and brokerage operations.

"Costello expands our expertise and solidifies our presence as the largest broker in Los Angeles and the San Fernando Valley," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am very pleased to welcome Tom and his associates to our growing Gallagher family of professionals."

Arthur J. Gallagher & Co. AJG, a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 33 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.

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SOURCE Arthur J. Gallagher & Co.