Arthur J. Gallagher & Co. Acquires Global Financial Brokers Limited and Total Benefits Specialists Limited
Arthur J. Gallagher & Co. announced the acquisition of Global Financial Brokers Limited and its affiliate Total Benefits Specialists Limited, based in Trinidad and Tobago, on December 7, 2022.
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Rhea-AI Summary
Arthur J. Gallagher & Co. announced the acquisition of Global Financial Brokers Limited and its affiliate Total Benefits Specialists Limited, based in Trinidad and Tobago, on December 7, 2022. Founded in 1995, Global Financial Brokers specializes in retail insurance, providing health, life, pension, and wellness solutions. This acquisition aims to enhance Gallagher's growth and presence in the Caribbean market. Key team members will continue under the leadership of Gallagher Caribbean's Group CEO, Michael Thornhill. The terms of the transaction remain undisclosed.
Positive
- Expansion into the Caribbean market enhances Gallagher's growth opportunities.
- Acquisition of established firms with strong client focus.
- Retention of key personnel ensures continuity in operations.
Negative
- None.
Details
News Market Reaction – AJG
The recorded move for AJG in the trading session of this news was -1.03%.
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ROLLING MEADOWS, Ill., Dec. 7, 2022 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Port of Spain, Trinidad and Tobago-based Global Financial Brokers Limited and its affiliate Total Benefits Specialists Limited. Terms of the transaction were not disclosed.
Founded in 1995, Global Financial Brokers Limited is a retail insurance broker offering group health, life, pension and wellness solutions for clients in Trinidad and Tobago. Affiliate company Total Benefits Specialists Limited, founded in 2010, is an employee benefits consultancy firm. Sandra Chin Yuen Kee, Michelle Alonzo, Jeremy Lee, Quentin Thomas and their team will remain in their current location under the direction of Michael Thornhill, Group CEO, Gallagher Caribbean.
"Global Financial Brokers' strong client focus will help expand our presence and growth opportunities in the Caribbean," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am delighted to welcome Sandra, Michelle, Jeremy, Quentin and their team to Gallagher."
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 | Media: Paul Day |
VP - Investor Relations | 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.
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