Gallagher makes Arizona-based acquisition

Arthur J. Gallagher & Co. on Tuesday said it has acquired Viking Bond Service Inc.

Terms of the transaction were not disclosed.

Phoenix-based Viking Bond Service, founded in 2002, specializes in commercial, contract and fidelity bonds for U.S. clients, a Gallagher statement said.

Viking Bond Service has about 15 employees, and they are expected to transition to Gallagher, according to an email from a Gallagher spokesman. They will operate under Kevin Garvin, head of Affinity North America for Gallagher’s retail property/casualty brokerage operations.

Arthur J. Gallagher & Co. is the fourth-largest broker of U.S. business, according to the most recent Business Insurance rankings.