Arthur J. Gallagher & Co. has acquired Mike Henry Insurance Brokers Limited (MHIB), headquartered in Auckland, New Zealand.
MHIB has annualized revenues of approximately $4.5 million and 30 staff operating from its offices in Auckland and Christchurch, according to the announcement.
Terms of the transaction were not disclosed.
MHIB is an insurance broker and risk management firm for middle-market commercial clients in New Zealand. The firm also specializes in coverage for the transportation and freight, jewelery, travel, marine, hotel and hospitality industries as well as the public sector.
Graham Henry and his associates will continue to operate under the direction of Andrew Godden, head of Gallagher’s Australasia brokerage business, according to the company.
This is Arthur J. Gallagher’s first brokerage presence in New Zealand. The firm, headquartered in Itasca, Illinois, has operations in 25 countries.