Staff absence insurance is an essential tool for schools to manage budgets and protect against unexpected costs. Credit: MChe Lee/Unsplash.

Insurance broker and risk manager Gallagher has announced the acquisition of MCMM in the UK for an undisclosed sum.

MCMM is a key service provider to Education Mutual, a provider of staff absence protection in the UK, catering primarily to state schools and academies.

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MCMM’s services to Education Mutual include processing new business quotes, handling contributions, renewal invitations, managing claims and other back-office functions.

Staff absence insurance is an essential tool for schools to manage budgets and protect against unexpected costs such as hiring replacement staff due to sickness or other absences.

Education Mutual’s offerings, administered by MCMM, cover various employee leave reasons including maternity, adoption, bereavement, ill health, accident and jury service.

MCMM, established in 2018 and led by director Les Marshall, employs a team of 23 in Mansfield, Nottinghamshire.

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Marshall and his team will retain their roles post-acquisition, integrating into Gallagher’s public sector and education practice, headed by regional managing director Tim Devine.

Devine said: “We are thrilled that MCMM has agreed to become part of our public sector and education practice. The products and expertise in the business are highly complementary to our current education offering and becoming part of Gallagher will provide them with a springboard for growth.”

Marshall said: “Becoming part of Gallagher is fantastic news for our business and people. Culturally our two firms are closely aligned; Gallagher is known for its ethical approach and with us fully focused on supporting the needs of a mutual, which is owned by its members, we are confident that we are like-minded thinkers.”

Gallagher recently purchased German broker Köberich Financial Lines as part of its global expansion plan.