Global insurance brokerage firm Arthur J. Gallagher & Co said it will acquire UK based insurance company Lifesure Group Ltd on Tuesday.
Gallagher said as part of the deal, it will also acquire Lifesure’s affiliated company Barnes Commercial, an insurance broker serving small-to-medium businesses. However, the terms of the transaction were not disclosed.
Paul Reid, managing director of Lifesure along with his team will become part of Gallagher’s UK & Ireland Retail division.
The brokerage firm has previously acquired BCHR Holdings, L.P., dba Buck on April 3, 2023. Buck is a leading provider of retirement, human resources and employee benefits consulting and administration services, primarily attending customers throughout the US, Canada and the UK.
Lifesure will enhance Gallagher’s UK retail capabilities in the niche personal lines space, said J. Patrick Gallagher, executive chief of the company.
The American firm headquartered in Rolling Meadows, Illinois is a global insurance brokerage, risk management and consulting services firm, providing services in about 130 countries around the world.
