Terms of the Arthur J Gallagher deal for Hartley Cylke Pacific were not disclosed.
Based in San Diego, Hartley Cylke is a retail insurance broker specialising in transportation for clients.
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Furthermore, Michael Hartley, John Cylke, James Hawes and their team will remain in their location reporting to Scott Firestone, head of Gallagher’s Southwest region retail property/casualty brokerage operations.
“Hartley Cylke Pacific Insurance’s deep expertise in the transportation market will enhance our growth opportunities in the region,” said J. Patrick Gallagher, Jr., Chairman, President and CEO. “I am delighted to welcome Michael, John, James and their associates to Gallagher.”
Gallagher deals before Hartley Cylke
Arthur J. Gallaher is a on a bit of a shopping spree this year.
It agreed to acquire Eastern Insurance Group, a subsidiary of Eastern Bank, for a cash consideration of $510m.
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By GlobalDataEastern Insurance offers comprehensive commercial property and casualty (P&C) and personal lines products. It also provides employee benefits consulting to clients throughout the Northeast US.
Arthur said that Eastern Insurance CEO Timothy J Lodge and his team will remain in their current location under the leadership of Gallagher North-East region retail P&C brokerage operations head Patrick Kennedy, and Gallagher East region employee benefits consulting and brokerage operations head John Neumaier.
Subject to regulatory approval, the deal is slated to be completed in Q4 2023.
In addition, the firm purchased Fender Marine and The Andersen Group.
The company executed the Fender Marine deal through its UK-based specialist underwriting unit, Pen Underwriting.
Norway-based Fender Marine is a managing general agent (MGA) that focuses on marine hull and protection & indemnity (P&I) cover for smaller fleets and specialist working vessels.
It also offers cover for cargo and subsea equipment, as well as yachts and pleasure craft.
Retail insurance agency the Andersen Group caters to non-profit trade associations, engineering services firms, and government contractors in the Greater Washington, DC region.
Founder Frank Andersen and his team will now work under the supervision of Gallagher Mid-South retail property/casualty brokerage operations head Bumpy Triche.
The financial terms of both deals were not revealed.
Among other most recent deals of Arthur J Gallagher include its acquisitions of US-based commercial P&C agency Leavitt Insurance Services and Swiss fine arts insurance broker AccurART.
