Gallagher picks up majority stake in Swedish broker

Arthur J. Gallagher, the international brokerage division of Arthur J. Gallagher & Co., on Wednesday said it has acquired an 85% stake in Stockholm-based insurance and reinsurance brokerage Brim A.B.

Terms of the deal were not disclosed.

Brim, which had revenue of $11.4 million in 2015 and employs 29 people, specializes in credit and political risks and construction business, Arthur J. Gallagher said in a statement.

“We have a clear strategy at Arthur J. Gallagher to bring together leading speciality brokers and expertise within each class and territory of business around the world,” Graeme Chilton, CEO of Arthur J. Gallagher International, said in the statement.

Arthur J. Gallagher & Co. is the world's fourth-largest insurance broker, according to Business Insurance's latest ranking.