18 September 2013 Insurance

Gallagher acquires specialist broker Belmont International

Arthur J. Gallagher has acquired passenger transport specialist, Belmont International, for an undisclosed sum.

Established in 1988 to service the privatised UK bus industry, Belmont, which generates more than £55 million gross written premium, will become part of the UK retail business, with the exception of its employee benefits division which provides a natural complement to Arthur J. Gallagher’s own specialist UK-based consultancy Gallagher Employee Benefits.

“When the opportunity arose to make Belmont part of the Arthur J. Gallagher group, we knew it was one too good to miss,” said David Ross, CEO Arthur J. Gallagher International. “We have long tracked its success and admired its market-leading position. Not only is it synonymous with risk management expertise in passenger transport but Belmont also boasts a thriving commercial insurance business with other niche plays in property owners, renewable energy and motor trade.

“Bringing Belmont on board is in line with our strategic objectives for growth –we only buy strong, profitable businesses that are accretive to our value. Its undisputed strength in passenger transport will add to UK retail’s existing specialist units within the public sector and education arena, as well as credit and surety.”

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