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Arthur J Gallagher’s reinsurance division, Gallagher Re, has purchased Toronto-based firm MGB, bolstering its reinsurance options for the medical sector.
Monetary particulars of the deal weren’t revealed.
MGB presents reinsurance options to well being upkeep organisations (HMOs), managing common underwriters (MGUs) and insurance coverage firms.
The management crew at MGB, comprising Andrew Barth, Jacqueline Greer and Thomas McGrath, will now work beneath Gallagher Re North America Japanese area supervisor Jim Fallon and Life, Accident and Well being section chief Rob Quick.
This continues Arthur J Gallagher’s current consolidation actions, which embody the acquisition of UK-based MCMM Companies.
MCMM, which gives companies to Training Mutual members, will combine into Gallagher’s training observe.
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The acquisition spree continued with the addition of insurance coverage dealer Köberich Monetary Traces in Germany, and retail insurance coverage company CBS Insurance coverage in Texas, US.
In November final 12 months, Gallagher additionally finalised the acquisition of Hughes Insurance coverage Company.
The New York-based firm companies purchasers within the north-eastern US with a complete vary of insurance coverage companies, together with industrial, private, and life and medical health insurance.
Arthur J Gallagher chairman and CEO J Patrick Gallagher Jr stated: “MGB’s robust consumer relationships and experience will speed up the expansion of our medical reinsurance enterprise and broaden our service choices.
“I’m more than happy to welcome Andrew, Jacqueline and Thomas to our rising, world crew.”
A world insurance coverage brokerage, danger administration and consulting companies firm, Arthur J Gallagher has expanded its worldwide attain with these current acquisitions.
Headquartered in Rolling Meadows, Illinois, US, the corporate delivers its companies in almost 130 international locations worldwide, leveraging each owned operations and an intensive community comprising correspondent brokers and consultants.
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