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California  + Inland Empire  + Finance  | 

Arthur J. Gallagher Acquires IE Insurance Agency Focusing on CRE

Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, has acquired Rancho Cucamonga-based Cornerstone Commercial & Personal Insurance Services, Inc. Terms of the transaction were not disclosed.

Cornerstone is a retail insurance agency serving commercial and personal clients primarily in San Bernardino and Riverside counties, with a focus on commercial real estate, construction and homeowners associations. Phil Hakopian, Allison Hakopian and their team will remain in their current location under the direction of Scott Firestone, head of Gallagher’s Southwest region retail property/casualty brokerage operations.

“Cornerstone is a highly regarded agency whose expertise in the homeowners association niche will enhance our capabilities in the region,” said J. Patrick Gallagher, Jr., chairman and CEO. “I am delighted to welcome Phil, Allison and their associates to Gallagher.”

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Arthur J. Gallagher

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition