Arthur J. Gallagher & Co. has acquired Bircroft Insurance coverage Companies, a UK-based industrial insurance coverage dealer with a concentrate on the true property sector.
Monetary particulars of the transaction haven’t been disclosed.
Bircroft has been serving the true property trade for greater than 15 years, providing insurance coverage options on each wholesale and retail ranges.
The corporate additionally caters to non-public shoppers looking for to insure their properties and useful possessions.
Based as a part of the Dawnay Day Group, Bircroft is led by Ian Lee and Simon Fowl, who together with their staff will stay of their roles.
Bircroft shall be built-in into the true property follow of Gallagher’s UK & Eire Retail division, which is headed by Jon Phillips because the regional managing director.
This deal is anticipated to reinforce Gallagher’s capabilities in the true property insurance coverage market, supporting shoppers together with property house owners, buyers, managing brokers and builders.
Phillips mentioned: “I’m delighted to welcome Bircroft to Gallagher, having identified each Ian and Simon for a few years. The enterprise has a unbelievable staff that has in-depth understanding of the dangers dealing with shoppers in the true property sector.
“We have already got one of many UK’s largest groups working in actual property and the merchandise and data supplied by Ian, Simon and the staff at Bircroft are extremely complementary to our present providing and turning into a part of Gallagher will present them with a springboard for enlargement.
Lee added: “Becoming a member of Gallagher is nice information for our enterprise, colleagues and shoppers. Our two companies are nicely aligned and share established capabilities in the true property sector.”
Final month, Gallagher agreed to amass Woodruff Sawyer for $1.2bn, pending regulatory approval.
Woodruff Sawyer offers a set of business insurance coverage merchandise specializing in center and large-market shoppers.
