Gallagher snaps up brokerage firms in UK, New Zealand
Arthur J Gallagher has snapped up two insurance brokerage firms to expand its footprint in the UK and New Zealand.
Gallagher has acquired Boston Marks Insurance, an independent re/insurance broker for the aviation sector offering retail property/casualty brokerage services to a range of government, commercial and private aviation and aerospace clients from offices in Auckland and Papakura in New Zealand; Gold Coast, Queensland and Perth, Western Australia in Australia; and London, England.
Following the deal, Pat McLaughlan and his associates in New Zealand will continue to operate from their current location under the direction of Carl O'Shea, New Zealand CEO. Damian Hooper and his associates in Australia will continue to operate from their current location under the direction of Paul Harvey, managing director of specialisms. Phil Stafford and colleagues will join Gallagher's London office under the direction of Mark Walters, executive director, aviation.
"Boston Marks' highly specialized offerings significantly expand our international brokerage capabilities in the aviation sector, in particular in the Australian and New Zealand markets," said J. Patrick Gallagher, Jr., chairman, president and CEO of Gallagher.
Steve Lockwood, managing director of Gallagher Australia and New Zealand, commented: "Boston Marks is a great fit for Gallagher; they have fantastic people and are a strong global player in the specialist aviation insurance market. Gallagher has a history of growth in the specialist sectors and Boston Marks will contribute meaningful to our global aviation capabilities."
In a separate transaction, Gallagher acquired UK's South West commercial insurance broker Pavey Group Holdings. Pavey Group provides tailored risk solutions to businesses from its offices in Torquay, Exeter and Holsworthy in Devon, and Highbridge in Somerset.
Led by managing director Graham Brown, Pavey Group will become part of Gallagher’s retail branch network in the UK.
“Pavey Group is a very well-respected firm with a complementary culture and mix of business that expands Gallagher’s presence in South West England,” said Gallagher.
Michael Rea, CEO of UK retail for Gallagher, added: “Pavey Group is a great strategic fit for our UK business, as a long-established, commercially led, growing regional broker with a strong reputation for client service. Bringing Pavey Group into our UK branch network will not only significantly increase our client reach in the South West and add complementary expertise, it will also strengthen our client offering in other key niche sectors.”
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