Reinsurance News
Arthur J. Gallagher & Co
Arthur J. Gallagher acquires Texas-based RHP General Agency
19th May 2023
Arthur J. Gallagher & Co's subsidiary, Risk Placement Services, Inc. (RPS), has acquired Houston, Texas-based RHP General Agency, Inc. RHP is a licensed managing general agency specialising in residential property insurance for clients throughout Texas. According to the firm, its main focus is providing insurance on properties that don’t qualify for coverage ... Read the full article
Arthur J. Gallagher’s Artex Risk Solutions acquires Allied Risk Management
17th May 2023
Global insurance brokerage Arthur J. Gallagher & Co. announced that its subsidiary, Artex Risk Solutions, Inc., has completed the acquisition of Allied Risk Management, based in Dublin, Ireland. The terms of the transaction have not been disclosed, the company said. Allied Risk Management offers insurance and reinsurance management services, as well as ... Read the full article
Arthur J. Gallagher expands fine art expertise with accurART acquisition
4th May 2023
Re/insurance broking firm Arthur J. Gallagher & Co has acquired Switzerland-based fine art insurance broker, accurART. Terms of the transaction were not disclosed. A market-leader in Switzerland, accurART specialises in insurance for private art collections, museums, galleries and for fine art exhibitions. The firm also offers cover for other valuables, which includes ... Read the full article
Gallagher appoints Ralph Sherbahn Head of Financial Lines for Asia
11th April 2023
Gallagher has appointed Ralph Sherbahn as Head of Financial Lines for Asia, where he will be based in Hong Kong and report to the CEO of North Asia, Thomas Wang. In the new role, Sherbahn is tasked with overseeing Gallagher’s financial lines operations in Asia with existing capabilities in Singapore and ... Read the full article
Pen Underwriting acquires Tay River Holdings & marine specialist subsidiaries
4th April 2023
Pen Underwriting has acquired Tay River Holdings and its wholly-owned marine specialist subsidiaries Vessel Protect, Trafalgar Marine Trades and BMM Ports & Terminals for an undisclosed sum. Established in 2020 by marine underwriters Paul Hartley, James King and Chris Goddard, Tay initially comprised the three niche MGAs, backed by the A-rated ... Read the full article
Gallagher Re names Wakefield to become CEO, as James Kent transitions to group role
16th March 2023
Tom Wakefield is set to become the CEO of reinsurance broker Gallagher Re, after James Kent was promoted to a new role within Gallagher, as CEO of Global Insurance Strategic Relationships. Kent will take responsibility for establishing and driving a framework that determines how Gallagher connects with its major strategic partners ... Read the full article
Arthur J. Gallagher acquires broker Anderson Benson
3rd March 2023
Arthur J. Gallagher & Co. has acquired Nashville, Tennessee-based Anderson Benson, a retail insurance broker and risk management firm. Anderson Benson was founded in 2012 and has an entertainment niche expertise as well as specialisations in hospitality, construction, transportation and private clients across the US. George Anderson, Reno Benson, Brent Daughrity, Steve ... Read the full article
AJ Gallagher’s brokerage & risk management units post 16% organic revenue growth in Q4
27th January 2023
Global insurance and reinsurance broker, Arthur J. Gallagher & Co., has reported adjusted net earnings of $367.9 million for the fourth quarter of 2022 within its brokerage operations, which alongside higher earnings in its risk management segment, more than offset an elevated loss within the corporate division. Company-wide, adjusted net earnings ... Read the full article
Arthur J. Gallagher acquires Brazil-based Interbrok Group
29th December 2022
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 ... Read the full article
Arthur J. Gallagher acquires BCHR Holdings for $660m
22nd December 2022
Arthur J. Gallagher & Co. has 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. Buck is a leading provider of retirement, HR and employee benefits consulting and administration services, primarily serving customers ... Read the full article
KBW sees solid growth prospects for Gallagher Re
16th December 2022
Analysts at KBW are forecasting “solid growth prospects” for reinsurance broking unit Gallagher Re over the next two years, following comments at Arthur J. Gallagher’s recent investor day. It’s thought that Gallagher Re could be set to “go on to strong offense” in 2023 as reinsurance rates rise, especially for property ... Read the full article
Arthur J. Gallagher acquires Aviation Insurance Australia
15th December 2022
Re/insurance broking firm Arthur J. Gallagher & Co have acquired Brisbane, Queensland-based Aviation Insurance Australia. Terms of the transaction were not disclosed. Founded in 1993, Aviation Insurance Australia is a specialist retail insurance broker that serves aviation and aerospace clients throughout the country. The brokerage website says the firm manages all aircraft types ... Read the full article
Arthur J. Gallagher acquires Mahowald Insurance
14th December 2022
Re/insurance broking firm, Arthur J. Gallagher & Co. have acquired St. Cloud, Minnesota-based Mahowald Insurance, LLC. Terms of the transaction were not disclosed. Founded in 1930, Mahowald is a retail insurance agency that offers commercial and personal products, as well as employee benefit packages and risk management services for clients across the ... Read the full article
Arthur J. Gallagher acquires P&C agency Bulen & Associates
30th November 2022
Re/insurance broking firm Arthur J. Gallagher & Co has announced the acquisition of California-based Bulen & Associates Insurance Services, Inc. Bulen & Associates is a retail property/casualty insurance agency serving commercial clients and individuals. It was founded in 1929 and is currently based in Murrieta, southern California. Agency Principal and Sales Manager Lisa ... Read the full article
AJG to raise equity capital to fund new acquisitions
16th November 2022
Re/insurance broking firm, Arthur J. Gallagher & Co (AJG)., has announced the renewal of its equity financing program for acquisitions. The firm has registered seven million shares for issuance in connection with brokerage and risk management acquisitions, in addition to two million shares that remain available for issuance from previously. It has ... Read the full article
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