High acquisition activity for broker

High acquisition activity for broker | Insurance Business

High acquisition activity for broker
It’s been a busy week for broker Arthur J Gallagher.

The US-based firm has acquired Brisbane-based Blue Holdings Pty Ltd, Victoria-based Instrat Insurance Brokers and then AJG’s underwriting agency Pen Underwriting acquired QBE Placement Services (QOS) on Thursday.

The acquisition news came after AJG announced it would retire the OAMPS brand and integrate that firm under the AJG brand, with Australia and NZ managing director Steve Lockwood promising more to come in 2015.

“It’s been a big year of change for our Australian operations and I’m confident we’re well set up to be even more competitive and grow further as a bigger and stronger Gallagher organisation looking forward to 2015,” Lockwood said.

Instrat will be integrated into the Australian operations of AJG at a future date, and the business will retain its premises in south east Melbourne.

Blue’s team will continue to operate in their current locations under Andrew Godden, head of AJG’s Australian brokerage operation.

Meanwhile, AJG chairman Tom Gallagher is in New Zealand this week to meet and greet staff at Crombie Lockwood branches around the country.

Read Wednesday’s newsletter for the Insurance Business interview.