Gallagher to enter Germany’s specialty financial lines market via M&A
Gallagher has acquired a German broker to enter the country’s specialty financial lines market and further expand its offerings in Europe.
The acquisition of Köberich Financial Lines marks Gallagher’s first on-the-ground broking team in Germany. Gallagher currently has broking businesses in Sweden, Norway, Switzerland, Liechtenstein and Turkey.
Köberich specialises in D&O insurance, and other financial lines products including cyber, warranties & indemnities, professional indemnity and crime insurance.
Köberich has a team based in Cologne, Germany and its customer base includes energy, engineering, construction, manufacturing and mining companies. The business was founded by Harald Köberich in 2009.
Following the deal, and Harald, along with his team, will remain in their current roles and become part of Gallagher’s European operations under the leadership of Alex Nagler, who joined in September 2023 to lead the firm’s expansion in the region.
Germany is Europe’s largest and the world’s fourth largest economy with a well-developed insurance sector.
Nagler, CEO of Gallagher in Europe, said: “I am delighted to reach this agreement with Harald. He and I have known each other for a number of years and this is a fantastic addition to our European presence with Germany earmarked as a key territory for us to build Gallagher’s presence in. This acquisition presents a great opportunity to enter into the German specialty financial lines market and enable the team to build on its offering through our existing global expertise.”
Harald added: “This is an exciting milestone for our team and becoming part of a global broker like Gallagher will enable us to take the business to its next stage of evolution, adding broader capabilities, deeper industry expertise, and greater access to international markets. As the founder of Köberich when it was formed some 15 years ago, I wanted to make sure we became part of a business with a culturally like-minded team of colleagues who share our values and our commitment to putting our clients first, so I feel Gallagher is a great fit for us.”
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