Mahowald Insurance Acquired by Illinois Based Firm

Saint Cloud, MN, USA / KNSI

Jennifer Lewerenz

Dec 13, 2022 | 9:43 AM

Jennifer Lewerenz/KNSI News

(KNSI) — A local insurance agency has been sold.

Arthur J. Gallagher & Co. announced its acquisition of St. Cloud-based Mahowald Insurance, LLC.

Mahowald was founded in 1930 and is a retail insurance agency that offers commercial and personal insurance, employee benefit packages and risk management services throughout the Midwest.

According to a press release, Gallagher is a global insurance brokerage, risk management and consulting services firm that provides services in approximately 130 countries. It is headquartered in Rolling Meadows, Illinois.

“Mahowald has an outstanding reputation as a fourth-generation broker whose health care market expertise will enhance our capabilities in the region,” said J. Patrick Gallagher, Jr., Chairman, President and CEO. “I am very pleased to welcome Mahowald to Gallagher.”

Bob Mahowald, Jr. and the employees with the agency will remain in place.

Terms of the transaction were not disclosed.

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