Arthur J. Gallagher Expands with Turkish Broker Acquisition

Published 11 hours agoAJG

Arthur J. Gallagher Expands with Turkish Broker Acquisition

Arthur J. Gallagher & Co. has taken a significant step in widening its global reach by purchasing a majority stake in Brokers' House, a notable insurance and reinsurance broker based in Istanbul. This acquisition introduces Gallagher directly into the Turkish specialty broking market, a strategic node linking Asia and Europe. The company has been a Gallagher Global Network partner since 2014, allowing for a seamless integration into Gallagher's operations.

Brokers' House offers a comprehensive suite of services covering property, financial lines, energy, engineering, and marine cargo. The acquisition will see the current leadership, Gündüz Tezel and Levent Özbilen, remain in their roles, providing stability and local expertise crucial for Gallagher's strategic expansion in the Middle East and North Africa region. Despite the significant nature of this deal, the financial aspects of the transaction remain undisclosed.

The move signifies a broader plan by Arthur J. Gallagher & Co. to enhance its presence in the growing Turkish market and beyond. Bloomberg highlighted the acquisition's potential to solidify Gallagher's market presence and expand service offerings across the region, marking a strategic alignment with its existing global network.

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