Gallagher acquires retail brokerage, MGA in separate dealsPosted On: Oct. 4, 2021 12:45 PM CST
Arthur J. Gallagher & Co. on Monday announced the acquisition of Grand Cayman-based brokerage Briat Insurance Ltd.
Separately, Gallagher said its Pen Underwriting Ltd. unit has acquired Manchester Underwriting Agencies Ltd., a specialist underwriting agency based in the United Kingdom.
Terms of the transactions were not disclosed.
Established in 2012, retail brokerage Briat Insurance offers commercial, professional, homeowners and health insurance coverages to businesses and individuals, Gallagher said in a statement.
Clive Dawson will be managing director of Gallagher Cayman, and Jonathon Coleman will remain financial officer under the direction of Matthew Pragnell, CEO of Gallagher Caribbean Group, Gallagher said. Briat has seven employees, all of whom will remain, a spokeswoman said via email.
In the second deal, Pen Underwriting bought Manchester Underwriting Agencies and its wholly owned subsidiary Manchester Underwriting Management Ltd.
Founded in 2010 by Charles Manchester, Manchester Underwriting Management specializes in providing professional indemnity and management liability coverages for small and medium-sized enterprises.
The business will become part of Pen Underwriting, and Charles Manchester will continue to lead the agency, Gallagher said in a statement.
Manchester Underwriting Management has five offices in the U.K.