Gallagher buys in Australia, completes JLT aerospace dealJune 5 2019 by Andrew Tjaardstra
It has been a busy week for Arthur J Gallagher as it secured the purchase of JLT’s global aerospace division from rival Marsh and bought Sydney-based broker The Protectors Group.
Gallagher managed to buy JLT’s division for US$251 million following the intervention of the European Commissionover competition concerns regarding the market changing acquisition of JLT by Marsh; the deal, which involves the transfer of 250 people, has now been completed.
In Australia Gallagher has purchased Sydney broker The Protectors Group, for an undisclosed sum; the business will now be rebranded.
The Protectors Group, based in Liverpool, includes Protectors Insurance Brokers and Regent Insurance Brokers; the brokers specialise in construction, hospitality and transport for commercial clients.
Gallagher’s president and chief executive Patrick Gallagher commented: “[The Protectors Group] is a second-generation family business that represents a very good cultural fit for Gallagher and expands our geographical presence in the key growth area of western Sydney.”
Last month Gallagher bought Adelaide’s Donnellys Insurance Brokers in addition to Sydney-headquartered specialist agriculture broker AgriRisk Services for an undisclosed sum.
AgriRisk describes itself as one of the largest portfolios of broker-managed crop — including broadacre, cotton, horticulture and viticulture — forestry and livestock insurance in Australia.
- July 2
Philip Smaje to become chief executive at the new venture.
- June 18
Marcel Chad aims to build a bespoke aviation offering comprising the market’s top talent.
- March 29
Specialty insurer has recruited Jamie Bowes for an aviation push in the region.