Gallagher has expanded its European presence through the acquisition of German specialty broker Köberich Financial Lines.
Köberich Financial Lines operates from Cologne, Germany, serving a diverse customer base that includes companies in the energy, engineering, construction, manufacturing, and mining sectors. It specialises in directors and officers (D&O) insurance, along with other financial lines products such as cyber insurance, warranties & indemnities, professional indemnity, and crime insurance.
The business was founded in 2009 by Harald Köberich, who will continue his current role as part of Gallagher’s European operations.
“This is an exciting milestone for our team and becoming part of a global broker like Gallagher will enable us to take the business to its next stage of evolution, adding broader capabilities, deeper industry expertise, and greater access to international markets,” said Köberich in an emailed news release.
“As the founder of Köberich when it was formed some 15 years ago, I wanted to make sure we became part of a business with a culturally like-minded team of colleagues who share our values and our commitment to putting our clients first, so I feel Gallagher is a great fit for us.”
By acquiring Köberich, Gallagher marks its entry into the German market with an on-the-ground broking team. Prior to this, the global firm had established broking businesses in Sweden, Norway, Switzerland, Liechtenstein, and Turkey.
Alex Nagler, who took on the role of Gallagher’s CEO in Europe last September, commented on the acquisition.
“I am delighted to reach this agreement with Harald,” said Nagler. “He and I have known each other for a number of years and this is a fantastic addition to our European presence with Germany earmarked as a key territory for us to build Gallagher’s presence in.”
Nagler also spoke of Gallagher’s entry into the German specialty financial lines market and said the swoop for Köberich allows the team to “build on its offering through our existing global expertise.”
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