Arthur J. Gallagher & Co. on Wednesday announced the acquisition of Property & Commercial Limited in the U.K. from Barbon Insurance Group. Terms of the transaction were not disclosed.This insurance business provides retail and wholesale insurance products and services as well as affinity business and includes a managing general agent (MGA). Operating as Deacon; Keelan Westall; Cadogan Keelan Westall; Farr Insurance and Zennor Ltd, they all specialize in real estate insurance coverage for their U.K. clients. Their colleagues will continue to operate from their current locations and will report through Arthur J. Gallagher International, Gallagher's U.K.-based insurance broker, or OIM Underwriting, Gallagher's London-based MGA.
"This transaction is a continuation of our acquisition strategy to further enhance our presence and add depth to our U.K. distribution platform," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "These highly experienced teams bring us strong expertise and will be an excellent complement to existing networks within our international and MGA operations. We're extremely pleased to welcome these associates to our growing Gallagher family of professionals."
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 19 countries and offers client service capabilities in more than 140 countries around the world through a network of correspondent brokers and consultants.