WASHINGTON (dpa-AFX) - Arthur J. Gallagher & Co. (AJG), an insurance brokerage, risk management and consulting services firm, announced Tuesday that it has signed an agreement to acquire specialist UK insurance broker The Bollington Wilson Group. The financial terms of the deal were not disclosed.
The transaction will close following regulatory approval.
Sale-based Bollington, which was founded in 1973, now has more than 400 employees. Following the deal, the business will become part of Gallagher's UK Retail Division.
Paul Moors, Group CEO, will remain with Gallagher as Chairman of Bollington.
Michael Rea, CEO of Gallagher's UK Retail Division, said, 'Bollington is hugely respected. This thriving business has strong capability and an impressive portfolio of specialisms that are complementary to our existing business lines, and will provide us with additional scale in the regional commercial broking sector.'
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