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Insurance coverage brokerage and danger administration providers firm Gallagher has expanded its European footprint with the acquisition of German specialty dealer Köberich Monetary Strains.
The deal consideration was not made public.
Köberich’s experience lies in administrators and officers (D&O) insurance coverage and varied different monetary strains belongings together with warranties & indemnities, cyber, crime {and professional} indemnity insurance coverage.
Established in 2009 by Harald Köberich, the corporate’s consumer base spans varied sectors similar to engineering, power, manufacturing, mining and building.
Harald Köberich and his workforce will proceed to serve of their current roles and combine into the European operations of Gallagher beneath Alex Nagler’s management.
Alex Nagler, who joined because the CEO for Gallagher Europe in September final yr, is heading the operations within the area and works on executing the corporate’s enlargement plans.
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This strategic transfer signifies the primary on-the-ground broking workforce of Gallagher in Germany.
The acquisition additionally enhances Gallagher’s present operations in Norway, Sweden, Liechtenstein, Turkey and Switzerland.
Nagler mentioned: “This acquisition presents a terrific alternative to enter into the German specialty monetary strains market and allow the workforce to construct on its providing via our current world experience.”
Commenting on the brand new deal, Harald mentioned: “That is an thrilling milestone for our workforce and turning into a part of a world dealer like Gallagher will allow us to take the enterprise to its subsequent stage of evolution, including broader capabilities, deeper trade experience and better entry to worldwide markets.
“Because the founding father of Köberich when it was fashioned some 15 years in the past, I needed to ensure we grew to become a part of a enterprise with a culturally like-minded workforce of colleagues who share our values and our dedication to placing our shoppers first, so I really feel Gallagher is a good match for us.”
Earlier this month, Gallagher employed Nepomuk Loesti from AIG because the chief industrial officer for its European broking operations.
Loesti’s function will likely be pivotal in driving the corporate’s development technique throughout Europe, with a deal with markets exterior the UK. He’ll report back to Nagler within the new function.
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