Arthur J. Gallagher & Co. has acquired Securitas Re of Sao Paulo, Brazil from Estater Gestao de Investimentos Ltda. Terms of the transaction were not disclosed.
It will trade internationally as Gallagher Brazil, as a licensed facultative reinsurance broker, and “will continue to build on Gallagher’s existing book of business in South America,” said the bulletin.
“They have expertise in the petrochemical, energy, and construction industries and will focus on providing property/casualty, surety, construction, and D&O coverages.”They will also help secure facultative reinsurance support for Brazilian cedants.
Gallagher Brazil will be run locally by its current manager, Fernando Prado, under the direction of David Ross, CEO of Arthur J. Gallagher (UK) Limited, Gallagher’s FSA-authorized broker and approved Lloyd’s of London broker.”
Chairman, President and CEO J. Patrick Gallagher, Jr. explained: “Part of our international strategy is to build a stronger presence in key global hubs like Brazil. Gallagher Brazil is a good example of how we can transform our existing correspondent broker relationships into solid operating partners. Their areas of expertise will complement our international operations, and we’re extremely pleased to welcome Fernando and his associates to our growing Gallagher family of professionals.”
Source: Arthur J. Gallagher & Co. – www.ajg.com
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