Arthur J. Gallagher & Co. has acquired San Diego-based G.S. Levine Insurance Services Inc. for undisclosed terms, the buyer announced Oct. 24.

Arthur J. Gallagher & Co. (NYSE: AJG) is based in suburban Chicago and reported total revenues of $2.52 billion in 2012.

G.S. Levine, which recently celebrated its 25th anniversary, is a Sorrento Valley-based retail insurance broker providing property and casualty, employee benefits and risk management insurance services for clients throughout the western United States.

The acquiring company said G.S. Levine’s Gary Levine, Ross Afsahi and their associates will continue to operate in their current location under the direction of Gallagher executives James G. McFarlane and Norbert Chung.

Gallagher, based in Itasca, Ill., has operations in 20 countries and offers services in more than 140 countries. In September, the business acquired Belmont International of Kent, England.

G.S. Levine has specialized in placing coverage for the real estate, health care, food processing, manufacturing, technology and financial services industries.

— SDBJ Staff Report