It acquired 85% stake in specialist (re)insurer Brim
Arthur J. Gallagher acquired an 85% stake in Swedish specialist insurance and reinsurance broker Brim AB (“Brim”) this week, following its plan of strategic development in the Scandinavian area.
Brim’s construction practice supports residential and commercial building development, together with infrastructure and civil engineering, across Sweden, Finland and Norway. As well as this, its credit and political risk practice provides financing support for major infrastructure projects around the world. Brim’s revenues are $11.4m, and it has a client base of around 2,000.
Arthur J. Gallagher International chief executive Grahame Chilton said: “We have a clear strategy at Arthur J. Gallagher to bring together leading specialty brokers and expertise within each class and territory of business around the world. Brim is yet another great example of a first-class broker who sees the benefits of joining our growing International business.”
Brim chief executive Rikard Öijermark added: “We have enjoyed great success working with Gallagher’s London Specialty, International and Reinsurance teams and built a strong rapport with the organisation and its leadership. Being part of the Gallagher group will open up new avenues of growth for us globally, along with access to a whole new range of products, services and capabilities to offer to our clients.”