Gallagher Invests 100% In Oz
NU Online News Service, Dec. 29, 10:55 a.m. EST?Arthur J. Gallagher & Co.'s subsidiary, Gallagher Bassett Services Inc., has acquired the remaining 50 percent of its Australian joint venture, Wyatt Gallagher Bassett Pty Ltd, from McGill Holdings Pty Ltd.[@@]
Terms of the agreement were not disclosed.
The Itasca, Ill.-based insurance broker formed the joint venture with the Wyatt Group in 1997. At that time Wyatt had a network of small offices throughout Australia with a total staff of 90 employees.
Since then, Wyatt Gallagher Bassett consolidated its operations and now operates in Brisbane, Melbourne and Sydney with a staff of 250 risk management professionals.
They provide claims management, information services, risk control consulting and loss adjusting for the Australian and New Zealand markets.
The operation will continue under the direction of Russell G. Parsons, vice president of Gallagher Bassett International, reporting through Richard J. McKenna, Gallagher Bassett's president and chief executive officer.
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