Gallagher Acquires 100% Stake In U.K. Firm
NU Online News Service, Feb. 27, 10:34 a .m. EST?Arthur J. Gallagher & Co. said that its United Kingdom subsidiary has acquired a 100 percent interest in Risk Management Partners Ltd from Am Re Holdings Ltd (UK), an affiliate of American Re-Insurance Company (American Re). Terms of the agreement were not disclosed.[@@]
The Itasca, Ill.-based broker said that Risk Management was formed in 1994 as a joint venture between Arthur J. Gallagher (UK) Limited and American Re.
Risk Management offers insurance and risk management products to public entities throughout the United Kingdom. The products may be combined with claims and loss management services through Gallagher's subsidiary, Gallagher Bassett International Ltd (UK).
Risk Management Partners will continue under the leadership of Kaz Janowicz, managing director, reporting through David E. McGurn Jr., president of Gallagher's Specialty Marketing and International Division.
J. Patrick Gallagher Jr., president and chief executive officer of Gallagher, said the acquisition of Risk Management reflects the firm's commitment to both the U.K. market and its global expansion efforts.
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