Beijing broking acquisition announced, touted as underlining Gallagher Re’s commitment to Asia Pacific; terms of the deal are not disclosed.
Gallagher Re has bought Nongxin Insurance Brokerage Company Ltd, the reinsurance broker has announced.
The acquisition of the Beijing-based insurance broking firm is part of a Gallagher Re’s broader commitment to, and investment in, the Asia Pacific region, the broker emphasised.
“Terms of the deal are not disclosed,” Gallagher Re said.
Jia Lou, CEO of mainland China & Hong Kong, Gallagher Re, said: “This strategic move marks a significant milestone in our commitment to our clients and expanding our presence in the Chinese market.
“With this acquisition, we will launch a new platform designed to deliver a comprehensive range of services. Our goal is to leverage local expertise with international resources to provide best in class solutions that meet the unique local needs.
“Our group is dedicated to fostering strong relationships in China. We are excited about the opportunities ahead and look forward to working closer than ever with our local clients and partners.”
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