Gallagher makes international acquisitions
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Arthur J. Gallagher & Co. continued its international expansion with two more acquisitions announced late this week.
On Friday, Gallagher announced the acquisition of U.K.-based Pavey Group. Pavey is a retail insurance broker with offices in Torquay, Exeter, Holsworthy and Highbridge, England, that offers retail property/casualty insurance and risk management advice to commercial businesses, care facilities, charities and the construction, manufacturing, agricultural and leisure sectors, Gallagher said in a statement.
Terms of the transaction were not disclosed.
On Thursday, Gallagher announced that it had acquired Boston Marks Insurance NZ in New Zealand, BMG Aviation in Australia and the book of business of Boston Marks Insurance Brokers in the United Kingdom — all part of the Boston Marks Group. Gallagher said in a statement that Boston Marks Group offers retail property/casualty brokerage services to a broad range of government, commercial and private aviation and aerospace clients from offices in Auckland and Papakura in New Zealand; Gold Coast, Queensland and Perth in Australia; and London.
Terms of the Boston Marks transaction also were not disclosed.
The acquisitions came only days after Gallagher announced that it had acquired a 40% stake in Jakarta, Indonesia-based broker PT IBS Insurance Broking Service and 100% of its affiliated reinsurance broker, IBS Re Singapore.
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