Global re/insurance broker Arthur J. Gallagher & Co has wrapped up its 30% minority investment in Middle East & North Africa (MENA) specialist insurance broker, ACE.
This deal follows Gallagher’s successful purchase of Willis Re last week.
It was announced in August that Gallagher had reached an agreement to acquire all of the treaty operations of Willis Re for an initial gross consideration of $3.25 billion.
In November, the UK’s Competition and Markets Authority (CMA) ended an investigation and cleared the planned acquisition, which has since completed.
The firm was founded in 2004 and acquired for its range of real estate errors & omissions insurance/cyber liability coverages.
The Illinois-headquartered group Gallagher now has operations spanning 68 countries.
