7 May 2015 Insurance

AJG International expands Chile presence

Arthur J Gallagher (AJG) International, the UK-based international brokerage division of AJG, has expanded its presence in Chile with the acquisition of a majority shareholding in Quality Risk Management (QRM).

QRM is an independent broker and personal lines specialist, with a life and health business sold through employer schemes alongside its affinity business offering home, accident, life, credit, illness and unemployment cover.

Raul Ossandon Gormaz and Rodrigo Friedlander Ergas lead the business as partners. They merged their independent broking businesses in 2010 to create QRM.

Last month (April 2015) AJG acquired a controlling stake in marine-focused property and casualty broker Bareyre, its first step in building a retail broking business in Chile.

Vyvienne Wade, international commercial director at AJG, said: “Partnering with established and ambitious sector specialists is central to our international growth strategy — and our investment in QRM is another great example of delivering on that.

“The team at QRM brings to Gallagher a great blend of professional integrity, technical skills, and strong client relationships as well as a shared appetite and enthusiasm to build a bigger, more diverse retail portfolio in Chile.”

Gormaz added: “Just like us, our clients are ambitious to expand and diversify, increasingly exploring global opportunities for growth – so we needed a strong international partner to realise both our own ambitions and those of our clients. In Gallagher we gain a fantastic mix of financial strength and stability alongside a customer-first culture to match our own.”

Lionel Soffia, head of AJG’s Latin American operations, said: “Targeted specialist acquisitions and the hire of top talent remain our focus for growth in Latin America. We welcome Raul, Rodrigo and their colleagues in Chile to Gallagher and look forward to taking this next exciting step in our journey with them.”

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