Arthur J Gallagher Is Said to Near Deal to Buy AssuredPartners

Arthur J. Gallagher & Co. is in advanced talks to acquire AssuredPartners in a deal valuing the insurance broker at about $12 billion, a person with knowledge of the matter said.

An agreement could be announced as soon as Monday, according to the person, who asked to not be identified discussing confidential information.

Bloomberg News reported last year that AssuredPartners’ private equity owners, GTCR and Apax Partners, were exploring options including a full sale of the company.

While discussions with Arthur J. Gallagher are advanced, they could still be delayed of falter, the person said. News of the talks ...