Gallagher Bassett International, a risk management services subsidiary of American insurance brokerage firm Arthur J. Gallagher & Co, has acquired Wales-based Adjusting Associates.

Adjusting Associates, which was founded in 2002, offers loss adjusting and claims management services. The acquired entity mainly manages domestic, commercial, liability and business interruption claims.

Adjusting Associates serves businesses predominantly in the UK, as well as in the Republic of Ireland, France, Portugal, Italy and Spain.

As per terms of the transaction, Stephen Sheppard, Andrew Swan and their associates will remain working from their current offices under the leadership of Simon Pemberton, head of Gallagher Bassett’s UK operations.

Arthur J. Gallagher & Co chairman, president and CEO J. Patrick Gallagher, Jr., said: “Adjusting Associates is a highly respected business that expands Gallagher Bassett’s UK client offerings and provides strong cross-selling opportunities. I am excited to welcome Stephen, Andrew and their associates to our growing global team.”

Concurrently, Gallagher Bassett Services has acquired Fullerton Health Corporate Services (Aust) from Fullerton Health Australia, part of Singapore-based Fullerton Healthcare Group.

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Fullerton Health Corporate Services (FHCS) was set up in 1996. Based in Sydney, the FHCS provides third-party claims administration services to clients across Australia.

FHCS general manager James Needle and his associates will continue to operate from their current location under the direction of John McNamara, head of Gallagher Bassett’s Australian operations.

Headquartered in Illinois, US, Arthur J. Gallagher & Co manages operations in 35 countries and provides client service capabilities in more than 150 countries worldwide.