Arthur J. Gallagher has acquired Swiss specialist fine arts insurance broker AccurART and California-based commercial P&C agency Leavitt Insurance Services.
The value of the deals was not made public.
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Zurich-based AccurART provides cover for fine arts exhibitions, private collections, museums, and galleries.
It also covers jewelry, musical instruments, and wine collections.
The firm caters to its European customers through its subsidiary in Vaduz, Liechtenstein.
AccurART’s team, including its managing directors Sandra Aebersold and Frank Häcker, will now join Gallagher’s Switzerland operations under CEO Stephan Bachmann.
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By GlobalDataArthur J. Gallagher chairman, president and CEO J. Patrick Gallagher, Jr. said: “AccurART bolsters our specialist fine arts presence in Europe, complementing our existing experience in this field.”
Meanwhile, Leavitt provides commercial property/casualty insurance and employee benefits consulting services.
The business caters to customers based in Southwest US.
Teri Frankel, Kenneth Blaich and their team will continue to be based in their existing location.
They will work under the guidance of Gallagher’s Southwest region retail property/casualty brokerage operations head Scott Firestone, along with West region employee benefits consulting operations head Charlie Isaacs.
J. Patrick Gallagher, Jr. added: “Leavitt is a highly regarded agency whose culture aligns with ours, and their expertise across a variety of niches will strengthen our capabilities in the region.”
Last month, Arthur J. Gallagher closed the purchase of the partnership interests of BCHR Holdings (Buck), which provides pensions, HR, employee benefits consulting and administration services.
The $660m deal was announced in December 2022.
Earlier this year, the Illinois-based insurance broker bought Irish retail insurance broker First Ireland Risk Management, and Texas-based CBS Insurance, among others.
