Arthur J. Gallagher & Co. Acquires MGB Re

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Jan 16, 2024, 09:00 ET

ROLLING MEADOWS, Ill., Jan. 16, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced that its reinsurance division, Gallagher Re, has acquired Toronto, Ontario-based MGB Re (MGB). Terms of the transaction were not disclosed.

MGB provides reinsurance solutions to health maintenance organizations (HMOs), managing general underwriters (MGUs) and insurance companies in the U.S. medical sector. The MGB leadership team of Andrew Barth, Jacqueline Greer and Thomas McGrath will operate under the direction of Jim Fallon, Gallagher Re's Eastern Region Manager in North America and Rob Fast, Life, Accident and Health Segment Leader in North America.

"MGB's strong client relationships and expertise will accelerate the growth of our medical reinsurance business and broaden our service offerings," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am very pleased to welcome Andrew, Jacqueline and Thomas to our growing, global team."

Arthur J. Gallagher & Co. (NYSE: AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.