Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based insurance broker, announced the acquisition of Bremen, Germany-based Krose GmbH & Co KG (Krose).
Terms of the transaction were not disclosed.
Founded in 1920, Krose provides commercial insurance and reinsurance solutions for corporate clients across Germany and specializes in the design and placement of complex programs.
Krose’s team of risk professionals across property, casualty, cyber, marine, D&O and alternative risk solutions will become part of Gallagher’s brokerage operations in Europe.
“Krose is a highly regarded firm which brings deep market expertise to complement our existing capabilities as we continue to expand in Germany and across Europe,” said J. Patrick Gallagher Jr., chairman and CEO. “I am very pleased to welcome the Krose team to Gallagher.”
Arthur J. Gallagher & Co. provides brokerage, risk management and consulting services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.
Source: Arthur J. Gallagher & Co.
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