Arthur J. Gallagher & Co. has acquired specialty insurance broker ITI Solutions Pte Ltd, located in Singapore. ITI’s speclaties include marine cargo, political risk, trade credit risk, and specialty lines. In addition, it is licensed to place business in the regional Asian reinsurance markets.
Terms of the transaction were not disclosed.
ITI will trade internationally as Gallagher Singapore.
The company said Freddie Lim, Lilian Seet, and their associates will continue to operate in their current location under the direction of David Ross, CEO of Gallagher’s London-based international brokerage operation.
J. Patrick Gallagher, Jr., chairman, president and CEO, said that part of his firm’s international growth strategy is building a stronger presence in key global hubs. Gallagher Singapore will give AJG direct access to its Asian clients and provide a platform for future growth in the region.
AJG has operations in 16 countries and does business in more than 110 countries.