Arthur J. Gallagher & Co. announced it has acquired the remaining shares of Philippines-based Philpacific Insurance Brokers & Managers Inc., dba Philinsure, following a minority investment in the business.
Terms of the transaction were not disclosed.
Philinsure is a commercial insurance and reinsurance broker serving clients across the Philippines from its headquarters in Cebu City and other offices in greater Manila and Davao City.
Gordon “Dondi” Joseph and his team will remain in their current locations under the direction of Sarah Lyons, head of retail property/casualty brokerage operations for Gallagher in Australia and Asia.
“With a strong record of growth and a culture like our own, Philinsure provides a fantastic opportunity to expand our retail brokerage capabilities in Asia,” said J. Patrick Gallagher Jr., chairman and CEO. “I am very pleased to welcome Dondi and his associates to our growing, global family of Gallagher professionals.”
Arthur J. Gallagher & Co., the Rolling Meadows, Illinois-based insurance brokerage, risk management and consulting services firm, provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.
Source: Arthur J. Gallagher & Co.
Topics Mergers & Acquisitions Agencies Reinsurance A.J. Gallagher
Was this article valuable?
Here are more articles you may enjoy.
Ex-CEO, Ex-CFO of Bankrupt AI Company Charged With Fraud 
Carnival Cruise Passenger Served 14 Shots Awarded $300,000 After Fall Down Stairs 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
