Arthur J. Gallagher & Co. Acquires Implement Compliance Solutions & Resources Limited

Rhea-AI Summary

Arthur J. Gallagher & Co. (NYSE: AJG) announced that its subsidiary, Artex, has acquired Implement Compliance Solutions & Resources (ICSR), a London-based firm specializing in compliance, governance, risk, and operational consulting services for insurance firms in the UK. While the transaction's terms were not disclosed, ICSR's team, led by Kenneth Underhill, will continue operating from their current location under the leadership of Paul Eaton, head of Artex EMEA. J. Patrick Gallagher, Jr., CEO, emphasized that the acquisition enhances Artex’s capabilities, especially in serving clients undergoing regulatory and transformational changes. Gallagher operates in approximately 130 countries, providing insurance brokerage, risk management, and consulting services.

Positive

• Acquisition strengthens Artex's capabilities in compliance and risk management.
• Enhances service offering for clients undergoing regulatory and transformational changes.
• Expands presence in the UK market.
• ICSR team retains operational continuity under existing leadership.

Negative

• None.

ROLLING MEADOWS, Ill., June 24, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced that its captive and alternative risk transfer solutions subsidiary, Artex, has acquired London-based Implement Compliance Solutions & Resources Limited (ICSR). Terms of the transaction were not disclosed.

ICSR provides consulting and support services on compliance, governance, risk and operations to insurance firms primarily in the United Kingdom. Kenneth Underhill and his team will remain in their current location under the direction of Paul Eaton, head of Artex EMEA.

"ICSR represents an excellent strategic fit for Artex and will strengthen our capabilities in serving clients undergoing regulatory and transformational change," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am excited to welcome Kenneth and his 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

 

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SOURCE Arthur J. Gallagher & Co.

FAQ

What company did Arthur J. Gallagher & Co. (AJG) acquire in June 2024?

Arthur J. Gallagher & Co. acquired Implement Compliance Solutions & Resources (ICSR).

What services does Implement Compliance Solutions & Resources (ICSR) provide?

ICSR provides consulting and support services on compliance, governance, risk, and operations, primarily for insurance firms in the UK.

Who will lead ICSR after its acquisition by Artex?

ICSR will continue to be led by Kenneth Underhill and his team, under the direction of Paul Eaton, head of Artex EMEA.

What is the strategic benefit of Artex acquiring ICSR?

The acquisition strengthens Artex’s capabilities in serving clients undergoing regulatory and transformational change in the compliance and risk management sectors.

How many countries does Arthur J. Gallagher & Co. operate in?

Arthur J. Gallagher & Co. operates in approximately 130 countries.