ROLLING MEADOWS, Ill., May 13, 2019 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Swiss insurance broker Verbag Versicherungsberatungs AG ("Verbag"). Terms of the transaction were not disclosed.
Based in Zug, Switzerland, Verbag offers commercial lines, employee benefits, accident & health and high-net-worth personal lines brokerage and consulting services, with revenues of approximately $2 million (USD). Thomas Renold and his associates will continue to operate from their current location under the direction of Tanja Jung, CEO of Hesse - A Gallagher Company, in Switzerland.
"With Gallagher having invested in creating a specialist insurance broking platform in Continental Europe, offering strengths in marine, construction, trade credit, liability and waste-to-energy risks, we are very pleased to expand our capabilities yet further with a quality business like Verbag," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am delighted to welcome Thomas and his associates to Gallagher."
Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 35 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
SOURCE Arthur J. Gallagher & Co.