AJG expands Colombian presence
Arthur J Gallagher (AJG) International, the UK-based international brokerage division of AJG, has unveiled plans to acquire a controlling stake in Colombian retail insurance broker Guianza.
The transaction is subject to regulatory approval before AJG can complete the transaction.
Based in Bogotá and established in 1992, Guianza offers commercial and personal lines, specialising in property and vehicle insurance with personal accident and life and health accounts.
According to AJG, the acquisition will enable the broker to offer customers across the country a full suite of insurance solutions, following its completion last month of the deal with energy and construction specialist ARM Re.
The retail operation will be led by chief executive Adolfo Urdaneta, who joined Guianza in July 2015. He formerly served as chief commercial officer of Aon Colombia.
Vyvienne Wade, international commercial director at AJG, said: “Our signing of this deal represents another important step in delivering on our strategic ambition in Latin America, where we continue to invest in creating a strong retail presence with on-the-ground expertise to complement our wholesale specialty expertise.
“Guianza has a great reputation, strong leadership and fantastic client and market relationships making it the obvious choice to partner with.
“It will prove an excellent commercial fit with our reinsurance operation whose construction and energy strengths are, in turn, symbiotic with our London-based specialty operation — meaning we are ideally placed to support the Colombian economy and its own extensive programme of infrastructure investment and development.”
Carlos Rodriguez Angulo, chief executive officer of AJG Colombia, added: "With the strength of the Gallagher global brand behind Guianza, we will be looking to invest in Colombia’s top insurance talent to drive an ambitious programme of organic growth. Adolfo with his in-depth local knowledge, retail expertise and client focus will be the first of many key hires as we seek to develop our Colombian retail proposition.”
Grahame Chilton, chief executive officer of AJG International, said: “It’s great to see our strategic expansion into the dynamic economies of the Pacific Alliance continuing apace. We look forward to welcoming Adolfo and the team to our fast-expanding Latin American Gallagher family once the deal completes.”
