American insurance brokerage company Arthur J. Gallagher has purchased UK-based commercial insurance broker Risk Services (NW) for an undisclosed sum.
Established in 1999 by Steve Lowe, Risk Services offers customised solutions to corporate and commercial clients.
Under the terms of the agreement, Risk Services and its team of insurance staff will become part of the North-West region of Gallagher’s UK Retail branch network.
Risk Services founder and Tom Penn and their associates will continue to operate from their current location under the direction of Stephen Penketh, regional managing director for Gallagher’s North-West UK retail property/casualty brokerage operations.
Arthur J. Gallagher chairman, president and CEO J. Patrick Gallagher, Jr., said: “Risk Services is a well-run, client-focused regional broker that will be a terrific addition to our North West England and North Wales operations. I am delighted to welcome Steve, Tom and their team to our growing Gallagher family of professionals.”
Separately, Gallagher announced the acquisition of Akron, Ohio-based A.J. Amer Agency, a retail property/casualty insurance agency and employee benefit consultant offering coverages to businesses and individuals throughout Northeast Ohio.
Furthermore, Gallagher has inked an agreement to acquire 100% of the equity interests of Pronto Holdco, the parent company of Pronto Insurance (Pronto). The transaction is likely to complete during the second quarter of this year.