Arthur J. Gallagher & Co. has acquired a 60% interest in Risk Management Services (RMS), an insurance broker based in the Caribbean.
Founded in 1978, RMS is one of the top three brokers in Trinidad and Tobago. The firm offers P&C and employee benefits products and services to private, public, and multinational entities, across different sectors such as manufacturing, oil and energy, as well as service industries.
Following the deal, RMS managing director Christian Low and his team will continue to operate from their current location under the leadership of Gallagher Caribbean group CEO Matthew Pragnell.
“Our Caribbean brokerage operations have worked on regional accounts with RMS since the mid-'90s,” commented Gallagher chairman, president, and CEO J. Patrick Gallagher, Jr. “We have been very impressed with their integrity, knowledge of the business and high-quality service, and we are delighted to further solidify that partnership.”
Earlier this month, Gallagher welcomed the new year with its first acquisition of 2020 – the company snapped up Walsdorf Agency in New York, which is a commercial and personal lines agency with strong real estate expertise.