Re/insurance broker Arthur J. Gallagher & Co. has acquired Santiago-domiciled retail insurance broker THB Chile.
The terms of the transaction were not disclosed. The retail insurance broker provides property & casualty, life and health benefits, and reinsurance services to clients throughout Chile.
The THB Chile team will be led by Lionel Soffia, Head of Gallagher’s retail insurance and reinsurance brokerage operations in Chile and Latin America.
J. Patrick Gallagher, Jr., Chairman and Chief Executive Officer, commented on the acquisition: “THB Chile brings deep market expertise and a complementary book of business, representing a significant expansion of our retail and reinsurance brokerage operations in Chile.
“I am very pleased to welcome the THB Chile team to our growing Gallagher family of professionals.”
In July 2024, Arthur J. Gallagher & Co. also acquired California-based Cornerstone Commercial & Personal Insurance Services, Inc. (Cornerstone) in an undisclosed transaction as part of its ongoing expansion strategy.
This builds on the other recent acquisitions which include The John Galt Insurance Agency, an independent insurance agency providing full-service property & casualty insurance coverages in Florida.
