Arthur J. Gallagher & Co. Acquires Philippines-Based Re/Insurance Broker Philinsure
Arthur J. Gallagher & Co. 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., the Rolling Meadows, Illinois-based insurance brokerage, risk management and consulting services firm, 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.
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