Oxygen sells management arm to Gallagher

LONDON—Arthur J. Gallagher (U.K.) Ltd. has acquired Oxygen Insurance Managers Ltd. from Oxygen Holdings P.L.C. for an undisclosed sum.

Oxygen Insurance Managers represents insurers and syndicates at Lloyd's of London, and will now trade as OIM Underwriting Ltd., Gallagher said in a statement.

Oxygen retains its brokerage arm, Oxygen Insurance Brokers Ltd.