Gallagher buys Minnesota brokerage

Arthur J. Gallagher & Co. said Tuesday it acquired St. Paul, Minnesota-based brokerage Bremer Insurance Agencies from Old National Bancorp.

Terms of the transaction were not disclosed.

Bremer Insurance Agencies, with about 70 employees, places property/casualty coverage for commercial, agricultural and personal lines clients in Minnesota, North Dakota and Wisconsin.

Travis Hoaglund and staff will operate under the direction of Sean Gallagher, head of Gallagher’s Great Lakes region retail property/casualty brokerage operations.

The deal will expand Gallagher’s retail brokerage offerings in the Upper Midwest, Chairman and CEO J. Patrick Gallagher Jr. said in a news release.

Old National Bancorp acquired Bremer Insurance Agencies as part of its purchase of Bremer Bank, a deal valued at $1.4 billion that closed earlier this year.