American insurance broker, risk management and consulting firm Arthur J. Gallagher & Co has acquired two insurance brokerage firms in the UK and New Zealand.
In UK, Gallagher acquired Pavey Group, which offers insurance advice, tailored risk solutions and a fully managed claims service to businesses across the South West and beyond.
As per the terms of the agreement, Pavey Group’s 83 employees led by managing director Graham Brown will join Gallagher. They will become part of Gallagher’s Retail branch network that offers services from more than 50 locations across the UK.
Gallagher and Pavey Group together will have over 300 insurance professionals serving businesses large and small across the South West.
Gallagher UK Retail CEO Michael Rea said: “Pavey Group is a great strategic fit for our UK business, as a long-established, commercially led, growing regional broker with a strong reputation for client service.”
“Bringing Pavey Group into our UK branch network will not only significantly increase our client reach in the South West and add complementary expertise, it will also strengthen our client offering in other key niche sectors.”
“We very much welcome Graham and the team into the Gallagher group and look forward to meeting the needs of South West businesses together.”
In New Zealand, Gallagher acquired Boston Marks Insurance, an independent re/insurance broker for the aviation sector.
The acquired entity provides retail property/casualty brokerage services to a broad range of government, commercial and private aviation and aerospace clients.
It serves its clients from offices in Auckland and Papakura in New Zealand; Gold Coast, Queensland and Perth, Western Australia in Australia; and London, England.
After the completion of the deal, Pat McLaughlan and his associates in New Zealand will continue to work from their current location under the leadership of Carl O’Shea, New Zealand CEO.
Additionally, Damian Hooper and his associates in Australia will continue to work from their current location under the direction of Paul Harvey, managing director of Specialisms.
Phil Stafford and colleagues will join Gallagher’s London office under the direction of Mark Walters, executive director, aviation.