Gallagher, the global re/insurance brokerage and risk management services firm, has announced the acquisition of UK-based company Portmore Insurance Brokers for an undisclosed fee.
Portmore was established in 2006 as a mid-market-focused commercial insurance broker offering tailored insurance programmes for a wide range of industry sectors, encompassing both private and public sector businesses.
Since then, its founders and joint Managing Directors Graham Jacobs and Paul Chapman have expanded the business significantly through consistent strong annual growth.
“It’s fantastic to welcome the team from Portmore into the Gallagher family today — their business is an excellent fit for our strategy in the UK,” said Michael Rea, Chief Executive Officer of UK Retail for Gallagher.
“They are exactly the right type of well-run, commercially led, growing regional broker we’re looking for to further strengthen and complement our existing UK branch network.”
“Together with our existing operations in Southampton and Chichester, Portmore will help Gallagher become the pre-eminent commercial broker on the South Coast.”
Commenting on the acquisition, Jacobs added, “Becoming part of a locally-focused but globally-backed insurance broker and risk management services firm enables us to take our business to the next level of expansion, as we look to develop and deliver ever more specialised and bespoke solutions for our clients.”
“As a partner, Gallagher offers a great blend of complementary expertise, scale and geographic spread, while at the same time sharing our client-focused values of service excellence, professional integrity and teamwork. We’re excited for what the future holds.”
