Arthur J. Gallagher & amp; announced on Monday the acquisition of the Swiss insurance broker Verbag Versicherungsberatungs AG.
The terms of the transaction were not disclosed.
According to Zag, Switzerland, Verbag offers commercial lines, staff benefits, accidents and health and high net worth personal lines brokers and consulting services, with revenues of about $ 2 million, Gallagher said in a statement.
Thomas Renold and his associates will continue to operate from their present location under the leadership of Tanja Jung, CEO of Hesse – A Gallagher Company, in Switzerland, according to the statement.
The acquisition deepens Gallagher's expansion into Switzerland.
"With Gallagher investing in creating a specialist insurance broker platform in continental Europe, offering strengths in marine, construction, commercial, liability and energy use risks, we are very happy to expand our capabilities further" Gal
Arthur J Gallagher & Co. is the world's fourth largest insurance broker according to corporate insurance latest ranking.