Arthur J. Gallagher & Co. Acquires Hann Insurance Brokers Pty Ltd

Rhea-AI Summary

Arthur J. Gallagher & Co. (NYSE:AJG) has acquired Hann Insurance Brokers Pty , located in Lambton, New South Wales. Hann Insurance Brokers specializes in property/casualty insurance services for commercial clients across Australia, with particular expertise in the transport sector. The acquisition team will join Gallagher's Newcastle office under Sarah Lyons, who heads retail property/casualty brokerage operations for Gallagher in Australia and Asia. The financial terms of the transaction were not disclosed.

Positive

• Expansion of retail brokerage capabilities in Australia
• Acquisition adds transport sector expertise to service portfolio
• Strategic enhancement of geographic presence in New South Wales

Negative

• None.

Insights

Financial Analyst

This strategic acquisition in Australia strengthens AJG's market position in the transport insurance niche and expands their Asia-Pacific footprint. While financial terms weren't disclosed, the deal aligns with AJG's proven growth strategy of acquiring specialized brokers to enhance their service offerings and geographical reach.

The transport sector focus is particularly valuable given Australia's vast logistics needs and the increasing complexity of transport-related risks. This acquisition provides cross-selling opportunities within AJG's existing client base and access to Hann's established transport industry relationships.

The integration into AJG's Newcastle office suggests operational synergies and cost efficiencies. The retention of key personnel, including Rhett Hann, helps preserve client relationships and specialized expertise, which is important for maintaining revenue streams post-acquisition.

ROLLING MEADOWS, Ill., Dec. 2, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Lambton, New South Wales-based Hann Insurance Brokers Pty Ltd. Terms of the transaction were not disclosed.

Hann Insurance Brokers provides property/casualty insurance services for commercial clients throughout Australia with a focus on transport. Rhett Hann and his team will join Gallagher's Newcastle, New South Wales office under the direction of Sarah Lyons, head of retail property/casualty brokerage operations for Gallagher in Australia and Asia.

"Hann Insurance Brokers' strong client relationships and transport niche expertise will expand our retail brokerage capabilities in Australia," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am excited to welcome Rhett and his associates to our growing, global company."

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 (AJG) acquire in December 2024?

Arthur J. Gallagher acquired Hann Insurance Brokers Pty , a Lambton, New South Wales-based insurance broker specializing in transport sector insurance services.

Where will Hann Insurance Brokers' team operate following AJG's acquisition?

The Hann Insurance Brokers team will join Gallagher's Newcastle, New South Wales office, operating under Sarah Lyons, head of retail property/casualty brokerage operations for Gallagher in Australia and Asia.

What is the specialization of Hann Insurance Brokers acquired by AJG?

Hann Insurance Brokers specializes in providing property/casualty insurance services for commercial clients throughout Australia, with a specific focus on the transport sector.