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Keenan parent‑company acquisition by Arthur J. Gallagher delayed; DOJ review ongoing
Summary
Keenan informed the board that Keenan’s parent company Assured Partners is being acquired by Arthur J. Gallagher, but the deal is delayed while the Department of Justice requests additional information; Keenan said SJVIA service should not change.
Keenan staff updated the San Joaquin Valley Insurance Authority that Assured Partners, Keenan’s parent company, is being acquired by Arthur J. Gallagher but that the acquisition has not closed.
Staff said the deal initially was expected to close by the end of the first quarter but that the Department of Justice requested more information, delaying closing into the second half of the year. Keenan emphasized that, to date, SJVIA service levels should not change and that Keenan considers the SJVIA a valuable client.
Board members asked whether the acquisition posed any conflicts given past litigation or settlements involving the firm; Keenan staff said the matter was settled in the past and that operations will continue while the acquisition proceeds through regulatory review. The discussion was informational and no board action was taken.
