Effective Friday, May 27, insurance brokerage Arthur J. Gallagher & Co. (NYSE: AJG) will replace Coca-Cola Enterprises Inc. (NYSE: CCE) on the Standard & Poor’s 500 index. Â Coca Cola Enterprises is merging with two other Coca-Cola bottlers to form a new company called Coca-Cola European Partners, a company that will be domiciled in Spain and, therefore, ineligible for continued inclusion in the S&P 500.
Gallagher, through its subsidiaries, provides insurance brokerage and risk management services in the United States and internationally in three lines of business: brokerage, risk management and corporate.
The brokerage segment consists of retail and wholesale brokerage operations. Its retail brokerage operations negotiate and place property/casualty, employer-provided health and welfare insurance and health care exchange and retirement solutions for middle-market commercial, industrial, public entity, religious and not-for-profit entities. Wholesale brokerage operations help in the placement of specialized and hard-to-place insurance programs, and it also acts as a brokerage wholesaler, among other services.
The risk management segment offers contract claim settlement and administration services for enterprises that choose to self-insure their property/casualty coverages, and for insurance companies that choose to outsource their property/casualty claims departments. This segment also offers integrated disability management programs, as well as information, risk control consulting and appraisal services.
The corporate segment commercializes multi-pollutant reduction technologies to reduce mercury, sulfur dioxide and other emissions at coal-fired power plants, and it owns technologies that reduce carbon dioxide emissions.
Gallagher’s shares traded down about 0.1% in the noon hour on Wednesday, at $48.07 in a 52-week range of $35.96 to $49.50. The stock’s average daily volume is around 845,000 shares, and the consensus price target is $49.94.
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