Arthur J. Gallagher & Co. on Tuesday announced the acquisition of ITI Solutions Pte Ltd ("ITI"), located in Singapore. Terms of the transaction were not disclosed.
ITI is a specialist insurance broker with expertise that includes marine cargo, political risk, trade credit risk, and specialty lines. In addition, they are licensed to place business in the regional Asian reinsurance markets. Going forward, ITI will trade internationally as Gallagher Singapore. Freddie Lim, Lilian Seet, and their associates will continue to operate in their current location under the direction of David Ross, CEO of Gallagher's London-based international brokerage operation.
"Part of our international growth strategy is to build a stronger presence in key global hubs. Gallagher Singapore will allow us direct access to our Asian clients and at the same time, provide us with a platform for future growth in the region," said J. Patrick Gallagher, Jr., Chairman, President and CEO.
"Their areas of expertise will be a good complement within our international operations, and we're extremely pleased to welcome Freddie, Lilian and their team 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 16 countries and does business in more than 110 countries around the world through a network of correspondent brokers and consultants.