US-based insurance brokerage Gallagher has completed the acquisition of British insurance broker Stackhouse Poland, after receiving all regulatory approvals.
The deal to acquire 100% of Stackhouse Poland Group was first announced in January this year.
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Established in 1974, Stackhouse Poland offers insurance services to high-net-worth private clients, real estate, commercial, healthcare and a range of specialist insurance sectors.
Through its network of 23 offices, Stackhouse Poland generates more than £55m ($71.9m) in annualised revenues.
Gallagher CEO of the UK retail division Michael Rea said: “Stackhouse Poland is a fantastic business that strengthens our specialist businesses, expands our route to market and, importantly, extends our customer choice.
“Culturally we are a great fit — with our shared values of ‘doing the right thing’ for our clients and colleagues — and today we are delighted to welcome more than 500 new colleagues into the Gallagher family. Now we turn our attention to bringing together our businesses and combining our capabilities for the benefit of all our clients.”
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By GlobalDataGallagher CEO of UK broking and underwriting business Simon Matson said: “The acquisition of such a high-performing, well-respected broker as Stackhouse Poland is testament to the great quality of businesses and talent that Gallagher continues to attract here in the UK. I very much look forward to meeting all our new colleagues in the weeks and months to come.”
