Arthur J Gallagher acquires Swedish broker for Scandinavian expansion
Insurance brokerage and risk management firm Arthur J Gallagher has acquired Swedish property/casualty (P&C) broker Nordic Försäkring & Riskhantering to expand its footprint and capabilities in Scandinavia.
The acquisition of the Gothenburg-based broker broadens Gallagher’s existing specialist product offering in Scandinavia into additional P&C lines, adding new areas of expertise and capability including life sciences, transportation and engineering, according to the statement. Nordic is also an affinity specialist, working with trade associations, professional groups and industry sectors to create tailored solutions.
Anders Mjaaland, head of Arthur J Gallagher’s Scandinavian operations, said: "With their complementary strengths and sector specialisms, backed by the global power of Gallagher, our combined operations in Sweden create a compelling proposition to clients looking for a best-in-class broker to devise programmes of tailored risk management and insurance solutions. We look forward to working with Jonas, Andreas and the team to collectively grow our Scandinavian business."
Vyvienne Wade, CEO of the overseas division at Arthur J Gallagher, added: "Nordic represents a valuable opportunity to expand our operational footprint in Scandinavia in line with our growth strategy of investing in market-leading businesses that broaden our specialist capabilities and diversify our geographic presence. Its particular blend of specialty focus offers great synergy with Gallagher’s London market and international broking operations and we’re extremely pleased to welcome the team into the expanding Gallagher family."
Jonas Bergfeldt, CEO of Nordic, commented: "Gallagher demonstrates not only a shared entrepreneurial culture but a commitment to the Scandinavian market. Its appreciation for on-the-ground expertise, to ensure customers continue to receive the right blend of local service whilst taking advantage of Gallagher’s global reach and influence, makes them the right partner for us."
In 2013, Gallagher had purchased Norway-based international marine and energy broker Bergvall Marine AS, and in 2016 it acquired a majority shareholding in trade credit, political risk and construction specialist Brim AB in Stockholm.
Get the latest re/insurance news sent to your inbox every day - Sign up to our free email newsletters
Today’s stories
Alternative capital growth to further depress reinsurance rates in 2018
Maiden Re invests in drone insurtech start-up
Surplus lines carrier post underwriting loss for second straight year in US
TigerRisk hires ILS adviser to UK Chancellor
Reinsurers’ returns just 1.2% above their cost of capital
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze