Item 8.01. Other Events

On January 22, 2009, Arthur J. Gallagher & Co. ("Gallagher") entered into a definitive agreement to acquire all of the policy renewal rights from Liberty Mutual's middle-market commercial property/casualty business located in their Midwest and Southeast regions. As part of the agreement, Gallagher expects to hire approximately 75 Liberty Mutual producers in these regions.

Gallagher is also acquiring substantially all of the policy renewal rights and hiring the national producer group from Wausau Signature Agency, Liberty Mutual's commercial property/casualty and employee benefits insurance agency headquartered in Wausau, Wisconsin.

When completed, it is expected that the transaction will add approximately 120 new insurance sales professionals to Gallagher's retail commercial property/casualty brokerage operation.

The definitive agreement includes an initial payment in cash and stock of approximately $44 million and additional payments in cash or stock (at Gallagher's election) that is based on revenues generated in the two year period beginning twelve months after closing. The maximum amount of the additional payments is $120 million. This agreement is also subject to customary closing conditions including regulatory approval under the Hart Scott Rodino Antitrust Improvements Act of 1976. The transaction is expected to close on or about March 1, 2009.

Item 9.01. Financial Statements and Exhibits

99 Press release, dated January 22, 2009, issued by Arthur J. Gallagher & Co.

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