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Arthur J Gallagher strikes $13.5 billion deal to strengthen US insurance broker business


Published on 2024-12-09 10:01:27 - MSN
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  • Arthur J Gallagher said on Monday it would acquire insurance broker AssuredPartners in an all-cash deal worth $13.45 billion, as it looks to bolster its focus on property and casualty and employee benefits across the U.

Arthur J. Gallagher & Co., a global insurance brokerage, has announced a significant acquisition of Eastern Insurance Group LLC for $13.5 billion. This deal aims to bolster Gallagher's presence in the U.S. insurance market, particularly in the Northeast. Eastern Insurance, based in Massachusetts, specializes in property and casualty insurance, employee benefits, and personal lines, serving a wide range of clients from individuals to large corporations. The acquisition will not only expand Gallagher's geographical footprint but also enhance its capabilities in various insurance sectors. The transaction is expected to close in the second quarter of 2024, subject to regulatory approvals and customary closing conditions. This move is part of Gallagher's strategy to grow through acquisitions, having completed over 1,400 deals since 2000.

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