Global insurance and reinsurance brokerage Gallagher has acquired broker firm Erimus.
The firm has said it bought the privately-owned firm, which is based in the north east of England and deals with around 2,500 clients.
Michael Rea, CEO of Gallagher’s Retail Division, UK & Ireland, said: “We are delighted to welcome Paul, Lee and the wider Erimus team to Gallagher. This business is a great fit with our UK Retail proposition and provides us with a fantastic opportunity to expand our presence in the North East. The firm is focused on client service excellence and mirrors our own approach to doing business.”
Gallagher said it already has an extensive branch network across the UK and the acquisition of Erimus adds further quality and scale to the firm’s operations in the North East, and builds on its existing presence in Newcastle. Paul Davison, group CEO and Lee Elgie, managing director will continue to oversee the business and will be supported by the existing team.
Davison said: “We are very pleased to become part of the Gallagher team and by joining one of the UK’s largest insurance brokers we have found the ideal partner to take the business forward. This development is great news for clients as they will retain the personal service they are used to from the team that they know, and can additionally take advantage of Gallagher’s scale and expertise.”
He added: “It is also really positive news for our colleagues who will benefit from the increased opportunities of being part of a large, global firm with impressive growth aspirations.”
This is not the only acquisition that the firm has made in recent weeks. On 27 June, we reported that it had acquired INNOVU Insurance for an undisclosed amount. According to the firm, it has picked up the Irish firm, which places around $65m of GWP from its clients.
