The global insurance brokerage and consulting firm, Arthur J. Gallagher & Co., has acquired a North Carolina-based intellectual property insurance firm.
PIUS, or Patent Insurance Underwriting Services, is considered a managing general agent. Its services allow clients to insure patented and other intellectual property assets, which assist in financing, the companies explained.
“PIUS’ proprietary insurance product provides a credit enhancement for growing companies to secure better financing options,” PIUS said on its website. “By insuring the loan based on its evaluation of the IP and other assets, PIUS helps facilitate greater loan amounts.”
The head of the company, Joe Agiato, will remain at PIUS, under the direction of Patrick Kennedy, head of Gallagher’s Northeast retail property/casualty brokerage operations.
The publicly traded Gallagher is headquartered in in Rolling Meadows, Illinois.
Topics Mergers & Acquisitions Property North Carolina A.J. Gallagher
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