Artex Risk Solutions buys reinsurance broker EWI RePosted On: Nov. 21, 2019 11:50 AM CST
Arthur J. Gallagher & Co. on Thursday said its captive and alternative risk transfer solutions subsidiary, Artex Risk Solutions Inc., has acquired reinsurance intermediary EWI Re Inc.
Terms of the transaction were not disclosed. EWI Re was a unit of Dallas-based NL Industries Inc., a diversified holding company, according to its website.
EWI Re, also based in Dallas, offers reinsurance program design and placement services for captive insurers and mutual fund companies, runoff and legacy services, and safety and loss control services, with a specialty risk management practice built to support large policyholders with demanding insurance needs, Gallagher said in a statement.
EWI Re President Steven M. McElhiney will remain with the firm, according to a Gallagher spokeswoman.
Arthur J. Gallagher & Co. is the world’s fourth-largest insurance broker, according to Business Insurance’s latest ranking.