Menu

Reinsurance News

AJ Gallagher takes 30% stake in MENA insurance broker ACE

19th April 2021 - Author: Charlie Wood

Re/insurance broker Arthur J. Gallagher & Co. has announced its investment in specialist insurance broker ACE, via a strategic partnership with MIG Holding Ltd.

Arthur JThe partnership will see AJ Gallagher take a minority interest in Middle East & North Africa (MENA) specialist insurance broker ACE.

Under the terms of the arrangement, AJ Gallagher will take a 30% minority interest in the ACE entities and MIG Group will retain a 70% stake.

ACE is an insurance, reinsurance and employee benefits broker with operations in seven countries and a particular focus on aviation, real estate, construction, oil & gas, financial lines and property risks.

Led by President and CEO of MIG Group, Nagib Bahous, ACE’s team of more than 240 employees operate from offices across Saudi Arabia, Kuwait, the United Arab Emirates, Bahrain, Oman, Greece, and Lebanon.

RMS

“Our strategic investment in ACE enhances Gallagher’s international presence in the Middle East and expands our insurance and reinsurance capabilities across the region,” said J. Patrick Gallagher, Jr., Chairman, President and Chief Executive Officer (CEO).

“We look forward to working with Nagib and his associates, and are excited about the many growth opportunities this partnership offers.”

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Helix Underwriting expands into excess casualty insurance

Helix Underwriting Partners Ltd., an independent, multi-line Managing General Agent (MGA), has expanded its agency platform into the excess casualty...

Close