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Arthur J. Gallagher & Co. Acquires Philinsure

1. AJG acquired full ownership of Philinsure in the Philippines. 2. Philinsure is a growing commercial insurance broker in Asia. 3. The acquisition strengthens AJG's retail brokerage capabilities in Asia.

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FAQ

Why Bullish?

Acquisitions often enhance growth prospects and market share, similar to Gallagher's past successful acquisitions.

How important is it?

The acquisition aligns with AJG's strategic expansion goals, enhancing their global footprint in the lucrative Asian market.

Why Long Term?

The integration of Philinsure may lead to sustained growth and increased revenue in Asian markets over time.

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AONWLTW
, /PRNewswire/ -- Arthur J. Gallagher & Co. today 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. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher 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. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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