Gallagher expands in Scandinavia with Swedish acquisition

Arthur J. Gallagher & Co. on Monday said it has acquired Nordic Försäkring & Riskhantering A.B., based in Gothenburg, Sweden.

Terms of the deal were not disclosed.

Nordic CEO Jonas Bergfeldt and Deputy CEO Andreas Bergfeldt and their associates will remain with Nordic in their current locations in Gothenburg, Vaxjo and Gislaved, Sweden, reporting to Anders Mjaaland, head of Gallagher's Scandinavian brokerage operations, Gallagher said in a statement.

Founded in 1991, Nordic specializes in developing risk management and insurance programs for the life sciences, transportation, engineering and other industrial sectors, the statement said, as well as working with trade associations and professional groups.

The deal broadens Gallagher’s capabilities in Scandinavia and follows its 2013 purchase of international marine and energy broker Bergvall Marine A.S., based in Norway, and its 2016 acquisition of a majority shareholding in trade credit, political risk and construction specialist Brim A.B. in Stockholm.

“Their strong market relationships, client-focused approach and complementary industry specialization present a fantastic geographic, strategic and cultural fit for Gallagher,” J. Patrick Gallagher Jr., chairman, president and CEO, said in the statement.