AJ Gallagher acquires Norwegian marine broker
Arthur J Gallagher has acquired Bergvall Marine, a Norwegian-based specialist marine broker with annual revenues of approximately $5 million.
Based in Oslo, Bergvall Marine provides risk solutions for shipowners and managers, offshore contractors, shipyards and finance institutions. Its client service provision covers the full spectrum from risk evaluation and strategic reviews through to insurance placement and claims management.
“The renowned expertise, high standards of client service, vision for growth and entrepreneurial flair contained within the Bergvall Marine team made this transaction a very compelling opportunity for us,” said Vyvienne Wade, international commercial director at Arthur J. Gallagher.
“The business fits very well with our international growth strategy of investing in market-leading niche businesses that build on and broaden our specialist capabilities, whilst providing a strong complement to our existing London Specialty team of marine experts and sharing our commitment to client service.”
Anders Mjaaland, managing director of Bergvall Marine, added: “Becoming part of one of the world’s largest insurance brokers provides the ideal platform to support our ambitious growth plans. The deep marine and energy expertise embedded in Arthur J Gallagher will enable us to expand and enhance our offering at pace, while ensuring clients receive the same excellent level of service from our highly experienced senior executives.”
Commenting on the acquisition, David Ross, Arthur J Gallagher International CEO, said: “We are delighted to welcome Anders and his team into the Arthur J. Gallagher family as we further strengthen our international capabilities. Their unrivalled reputation for excellent client service provides a strong cultural fit and builds on our leading position in the marine and energy insurance broking sector.”
Other terms of the transaction were not disclosed.
