Arthur J. Gallagher & Co. has announced the acquisition of São Paulo, Brazil-based Interbrok Group for an undisclosed price.
Interbrok Group is a retail insurance broker founded in 1976, which offers a variety of commercial and personal insurance products and services to clients throughout Brazil.
Following the acquisition, Angeles de Magalhães, Anselmo do Ó de Almeida, José Roberto Borelli, Luis Arthur A. David, Anthony Wyles, Edson Hirazaki and their team will remain in their current location under the direction of Rodrigo Protasio, CEO of Gallagher’s retail insurance brokerage operations in Brazil, and Luiz Araripe, Country Manager.
J. Patrick Gallagher, Jr., Chairman, President and CEO of Gallagher, commented, “Interbrok Group has a rich history of client-focused service and will expand our footprint significantly in Brazil.
“I am delighted to welcome the Interbrok team to our growing, global company.”
Meanwhile, Arthur J. Gallagher recently announced an agreement to acquire the partnership interests of BCHR Holdings, known as Buck, in the firm’s largest HR benefits acquisition to date, valued at $660 million.
The firm suggested that the benefits of that acquisition include expanding its value proposition within retirement, benefits & HR consulting, administration, and technology, alongside enhancing its broad suite of professional services.
Earlier in December, Gallagher also announced the acquisitions of Queensland-based Aviation Insurance Australia, and Minnesota-based Mahowald Insurance, LLC.
November was equally busy, with the re/insurance broking firm acquiring North Carolina-based PIUS Limited and its affiliate Newlight Capital, which was soon followed by the news that it had acquired California-based Bulen & Associates Insurance Services, Inc.
Buffalo, New York-based M&T Insurance Agency, Inc., an indirect subsidiary of M&T Bank Corporation, was also acquired by Arthur J. Gallagher that same month.