Gallagher forays into Turkish specialty broking market with latest move

Global insurance broker  Arthur J Gallagher has entered the Turkish specialty broking market through its latest acquisition deal.

Gallagher has purchased a majority stake in Istanbul-based Brokers' House, a commercial insurance and facultative reinsurance broker offering clients a broad range of commercial and specialty coverages, including property, financial lines, energy, engineering and marine cargo.

Brokers' House has been a Gallagher Global Network partner since 2014.

Following the deal, the current leadership team of Gündüz Tezel and Levent Özbilen will remain with the business.

Patrick Gallagher, Jr. (picured), chairman, president and CEO, said: "This is a unique opportunity for Gallagher to directly enter the Turkish specialty broking market with a team that is already well known to us. We look forward to working more closely with Gündüz, Levent and their colleagues to expand their client product and service offerings."

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