Arthur J. Gallagher & Co. has acquired Bircroft Insurance coverage Companies, a UK-based business insurance coverage dealer with a give attention to the actual property sector.
Monetary particulars of the transaction haven’t been disclosed.
Bircroft has been serving the actual property business for greater than 15 years, providing insurance coverage options on each wholesale and retail ranges.
The corporate additionally caters to non-public shoppers in search of to insure their properties and beneficial possessions.
Based as a part of the Dawnay Day Group, Bircroft is led by Ian Lee and Simon Hen, who together with their crew will stay of their roles.
Bircroft will probably be built-in into the actual 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 actual property insurance coverage market, supporting shoppers together with property homeowners, buyers, managing brokers and builders.
Phillips mentioned: “I’m delighted to welcome Bircroft to Gallagher, having recognized each Ian and Simon for a few years. The enterprise has a incredible crew that has in-depth understanding of the dangers going through shoppers in the actual property sector.
“We have already got one of many UK’s largest groups working in actual property and the merchandise and information supplied by Ian, Simon and the crew at Bircroft are extremely complementary to our present providing and changing 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 actual property sector.”
Final month, Gallagher agreed to accumulate Woodruff Sawyer for $1.2bn, pending regulatory approval.
Woodruff Sawyer supplies a set of economic insurance coverage merchandise specializing in center and large-market shoppers.
