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Arthur J. Gallagher & Co buys majority stake in Colombian broker

IBR Staff Writer Published 20 July 2015

US-based insurance brokerage and risk management services firm Arthur J. Gallagher & Co (AJG) has purchased 65% equity stake in Colombia-based ARM Re Ltda Corredores de Reaseguros (ARM).

Columbia

Terms of the deal have not been disclosed.

Founded in 2006, ARM provides property and casualty risk services for its predominately Colombian clients.

ARM is specialized in construction, energy and mobile equipment risks and handles facultative business across terrorism, transportation, property, third-party liability, and contractors' machinery and equipment.

Under the leadership of Gallagher's London-based international brokerage operations head Grahame Chilton, ARM's Carlos Rodriguez Angulo, Fernando Tellez and their associates will continue to operate from their current Bogota location.

Arthur J. Gallagher & Co. chairman, president and CEO J. Patrick Gallagher, Jr., said: "We continue to look for specialist international brokers to develop into key strategic partners as we expand our sales and service capabilities around the globe.

"With its experienced and entrepreneurial team, reputation for innovative program design, and focus on delivering flexible and integrated client solutions, ARM is a great cultural fit for Gallagher."

With operations in around 30 countries, AJG provides client-service capabilities in about 140 countries across the globe through a network of correspondent brokers and consultants.


Image: ARM deals with facultative business across terrorism, transportation, property, third-party liability, and contractors' machinery and equipment. Photo: courtesy of Stuart Miles/ FreeDigitalPhotos.net.