Rolling Meadows, Ill.-based Arthur J. Gallagher & Co. announced the acquisition of Swiss insurance broker Verbag Versicherungsberatungs AG.
Terms of the transaction were not disclosed.
Based in Zug, Switzerland, Verbag offers commercial lines, employee benefits, accident & health and high-net-worth personal lines brokerage and consulting services, with revenues of approximately US$2 million. Thomas Renold and his associates will continue to operate from their current location under the direction of Tanja Jung, CEO of Hesse, a Swiss-based Gallagher subsidiary.
“With Gallagher having invested in creating a specialist insurance broking platform in Continental Europe, offering strengths in marine, construction, trade credit, liability and waste-to-energy risks, we are very pleased to expand our capabilities yet further with a quality business like Verbag,” said J. Patrick Gallagher Jr., chairman, president and CEO.
Source: Arthur J. Gallagher & Co.
Was this article valuable?
Here are more articles you may enjoy.
Hedge Funds Make Their Move as Litigation Finance Assets Slump 
Michigan Court Sides With Progressive in Policy Misrepresentation Case 
Some College Finals Delayed After Canvas Online Platform Hacked 
In Florida Court, Sackler Family Member Admits Felony Tied to Her Opioid Addiction 
