Arthur J. Gallagher & Co. has acquired Albany Insurance Services Limited, a retail broker serving commercial and personal lines clients across Auckland and Canterbury.
The deal, announced on October 1, is the firm's third New Zealand acquisition since early 2025. Financial terms were not disclosed, and neither were the size of Albany's client book, staff numbers or premium revenue.
Albany Insurance's team, led by Jeremy Bleakley, will report to Carl O'Shea, head of Gallagher's New Zealand retail brokerage operations. Chairman and CEO J. Patrick Gallagher, Jr. said: "Albany Insurance's market expertise and client-first culture will enhance our brokerage operations in New Zealand. I am delighted to welcome Jeremy and his associates to Gallagher."
In March 2025, Gallagher acquired RMA General Limited and its associated broking businesses, which provide commercial and personal lines as well as life and health solutions to clients nationally.
In April 2025, it added First Capital Financial Services and its affiliate First Capital Wealth Management, a Christchurch and Auckland firm covering wealth management, risk management and employee benefits. That team reports to Graham Campbell, head of Gallagher's employee benefits and HR consulting operations in Australia and New Zealand.
Both deals are confirmed on Gallagher's investor relations website, and in neither case were financial terms disclosed.
The three transactions follow a consistent approach: existing leadership retained, deal values kept private, and each adding capability or presence to Gallagher's New Zealand operations. Two of the three have strengthened its position in Auckland and Canterbury.
Those two regions are where most of New Zealand's economic activity sits. According to Statistics New Zealand's regional GDP release for the year ended March 2024, Auckland generated $157.3 billion in economic output, roughly 38% of the national total. Canterbury contributed $51.7 billion, or around 12.5%. Together the two regions account for just over half of New Zealand's GDP.
More economic activity means more insurable risk, which makes them the most attractive markets for a broker building scale.
Gallagher's profile in New Zealand also extends beyond acquisitions. Since a multi-year partnership announced in June 2025, it has been official insurance broker to New Zealand Rugby's national teams, with its branding extending to referee jerseys in domestic competitions from 2026.
For independent broker owners in Auckland and Canterbury, the deal is a reminder that a global acquirer is actively looking for retail books in their markets, and is willing to keep local leadership in place to secure them. Whether that prompts more owners to consider selling, or strengthens the case for staying independent and competing on local relationships, will depend on the individual business. But the pattern of the past 18 months suggests Gallagher is unlikely to stop at three.
