Arthur J. Gallagher & Co. Acquires Swiss Insurance Broker
- May 13, 2019
Arthur J. Gallagher & Co. Acquires Verbag Versicherungsberatungs AG
ROLLING MEADOWS, IL -- Arthur J. Gallagher & Co. announced the acquisition of Swiss insurance broker Verbag Versicherungsberatungs AG ("Verbag"). Terms of the transaction were not disclosed.
Based in Zug, Switzerland, Verbag offers commercial lines, employee benefits, accident & health and high-net-worth personal lines brokerage and consulting services, with revenues of approximately $2 million (USD). Thomas Renold and his associates will continue to operate from their current location under the direction of Tanja Jung, CEO of Hesse - A Gallagher Company, in Switzerland.
"With Gallagher having invested in creating a specialist insurance broking platform in Continental Europe, offering strengths in marine, construction, trade credit, liability and waste-to-energy risks, we are very pleased to expand our capabilities yet further with a quality business like Verbag," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am delighted to welcome Thomas and his associates to Gallagher."