Arthur J. Gallagher & Co. Acquires Health Insurance Consultants Australia

Rhea-AI Summary

Arthur J. Gallagher & Co. announced the acquisition of Health Insurance Consultants Australia, a specialist health insurance consultancy and brokerage firm based in Melbourne, Victoria. The terms of the transaction were not disclosed. The acquisition will enhance Gallagher's benefits consulting capabilities in Australia. HICA's founder, Suzanne Still, and her team will continue to operate under Gallagher's direction. This move strengthens Gallagher's global presence and commitment to growth.

Positive

• The acquisition of Health Insurance Consultants Australia will enhance Arthur J. Gallagher & Co.'s benefits consulting capabilities in Australia.

• Strengthens Gallagher's global team and presence in the health insurance consultancy sector.

• Suzanne Still, Jethro Still, and their associates joining Gallagher's team signifies a strategic move towards expanding services and expertise.

Negative

• The terms of the acquisition were not disclosed, leaving investors uncertain about the financial impact on Arthur J. Gallagher & Co.

• There could be potential integration challenges between HICA and Gallagher's existing operations in Australia.

ROLLING MEADOWS, Ill., May 6, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Melbourne, Victoria-based Health Insurance Consultants Australia (HICA). Terms of the transaction were not disclosed.

HICA is a specialist health insurance consultancy and brokerage firm serving corporate clients, small and medium-sized businesses, professional groups and associations in Australia for more than 30 years. HICA founder Suzanne Still, Jethro Still and their team will remain in their current location under the direction of Graham Campbell, head of Gallagher's employee benefits and HR consulting operations in Australia.

"HICA has a strong record of growth and will enhance our benefits consulting capabilities in Australia," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am very pleased to welcome Suzanne, Jethro and their associates to our growing, global team."

Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.

Investors: Ray Iardella, VP - Investor Relations         Media: Paul Day, Communications Manager
630-285-3661/ ray_iardella@ajg.com                        630-285-5946/ paul_day1@ajg.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/arthur-j-gallagher--co-acquires-health-insurance-consultants-australia-302134635.html

SOURCE Arthur J. Gallagher & Co.

FAQ

What did Arthur J. Gallagher & Co. acquire?

Arthur J. Gallagher & Co. acquired Health Insurance Consultants Australia, a health insurance consultancy and brokerage firm based in Melbourne, Victoria.

Where is Health Insurance Consultants Australia based?

Health Insurance Consultants Australia is based in Melbourne, Victoria.

Who will lead Health Insurance Consultants Australia under Gallagher?

Graham Campbell, head of Gallagher's employee benefits and HR consulting operations in Australia, will lead Health Insurance Consultants Australia.

What is the stock symbol of Arthur J. Gallagher & Co.?

The stock symbol of Arthur J. Gallagher & Co. is NYSE:AJG.

How many countries does Gallagher provide its services in?

Gallagher provides services in approximately 130 countries around the world.