(Reuters) -Arthur J Gallagher said on Monday it would acquire insurance broker AssuredPartners in an all-cash deal worth $13.45 billion, as it looks to bolster its focus on property and casualty and employee benefits across the U.S.

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.Most Read from BloombergA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long,

Arthur J. Gallagher & Co. has signed an agreement to acquire AssuredPartners Inc., a partnership of insurance and employee benefits brokerage firms, for a total consideration of $13.45 billion, the firm announced Monday.