Arthur J. Gallagher & Co. has agreed to acquire 100 percent of the equity interests of Pronto Holdco LLC, the parent company of Pronto Insurance (Pronto). The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2018.
Founded in 1997 and headquartered in Brownsville, Texas, Pronto is a full-service managing general agency (MGA), broker and claims administrator.
Pronto’s primary business is the placement of personal automobile insurance for consumers throughout Texas, California and Florida, with a special focus on serving the rapidly growing Hispanic market. Pronto operates an omni-channel distribution network of Pronto-owned agencies, franchise agents, independent agents and a direct-to-consumer eCommerce platform.
Jorge Barcena, Wendy Knight, Clemente Rendon and Pronto’s entire corporate management team will continue to operate from their current locations under the direction of Joel Cavaness, president of Risk Placement Services Inc. (RPS), Gallagher’s wholesale and MGA operation.
Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois.
Topics Mergers & Acquisitions Texas Agencies Insurance Wholesale
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