Arthur J. Gallagher & Co. Acquires Brazilian Broker
ITASCA, Ill., Feb. 16 /PRNewswire-FirstCall/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Securitas Re of Sao Paulo, Brazil from Estater Gestao de Investimentos Ltda. Terms of the transaction were not disclosed.
Trading internationally as Gallagher Brazil, this licensed facultative reinsurance broker will continue to build on Gallagher's existing book of business in South America. They have expertise in the petrochemical, energy, and construction industries and will focus on providing property/casualty, surety, construction, and D&O coverages. They will also help secure facultative reinsurance support for Brazilian cedants. Gallagher Brazil will be run locally by its current manager, Fernando Prado, under the direction of David Ross, CEO of Arthur J. Gallagher (UK) Limited, Gallagher's FSA-authorized broker and approved Lloyd's of London broker.
"Part of our international strategy is to build a stronger presence in key global hubs like Brazil. Gallagher Brazil is a good example of how we can transform our existing correspondent broker relationships into solid operating partners," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "Their areas of expertise will complement our international operations, and we're extremely pleased to welcome Fernando and his 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 15 countries and does business in more than 100 countries around the world through a network of correspondent brokers and consultants.
SOURCE Arthur J. Gallagher & Co.
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