Tribune staff report |  Arthur J. Gallagher & Co. said it has signed a deal to acquire substantially all of the insurance brokerage business of FirstCity Partnership Ltd. of London, England. The transaction is expected to close in April 2010. Terms were not disclosed.

FirstCity specializes in insurance coverage for the financial services industry as well as coverage lines for professional risk, asset protection, trade and political risks and fine art. Its divisions will trade as part of London-based Arthur J Gallagher
International.

“With their financial industry expertise and client-based culture,
this team is an outstanding strategic fit for our London operations,” 
J. Patrick Gallagher Jr., chairman, president and CEO of Arthur J.
Gallagher & Co., said in written statement.

Arthur J. Gallagher & Co., headquartered in Itasca, has operations
in 15 countries and does business in more than 100 countries around the
world through a network of correspondent brokers and consultants.