Arthur J Gallagher said on Monday it would acquire insurance broker AssuredPartners in an all-cash deal worth $13.45 billion, as it deepens focus on property and casualty and employee benefits across the U.
Gallagher, a global insurance brokerage, has acquired AssuredPartners for $13.5 billion, significantly bolstering its presence in the U.S. insurance market. This acquisition, one of the largest in the insurance brokerage sector, enhances Gallagher's capabilities in various insurance lines including property and casualty, employee benefits, and personal lines. The deal, which includes both cash and stock, is expected to close in the first half of 2024, subject to regulatory approvals. AssuredPartners, known for its strong regional presence, will help Gallagher expand its footprint and client base, particularly in the middle-market segment. This move is part of Gallagher's strategy to grow through acquisitions, aiming to leverage AssuredPartners' established network and expertise to drive further growth and innovation in the insurance industry.
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