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Expanding its presence in the United Kingdom, insurance provider Arthur J. Gallagher (NYSE: AJG ) will acquire the U.K.-based Property & Commercial Limited from Barbon Insurance Group, the country's largest provider of tenant references, the largest provider of rent guarantee, and one of the largest brokers to the social housing sector.
Arthur J. Gallagher is an international insurance brokerage and risk management services firm, and P&C will operate through its insurance broker, OIM Underwriting, Gallagher's managing general agency in London. Employees, however, will continue to work from their current locations.
The company's chairman, president, and CEO J. Patrick Gallagher, Jr. said:
This transaction is a continuation of our acquisition strategy to further enhance our presence and add depth to our U.K. distribution platform. 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.
Including Property & Commercial, Arthur J. Gallagher has acquired nine different businesses this year. Headquartered in Itasca, Ill., the insurance broker operates in 19 countries and offers client service capabilities in more than 140 countries around the world.