Gallagher has acquired the remainder of Swiss insurance broker Hesse & Partner AG and Hesse Consulting GmbH, after it initially purchased 65% of shares in 2018.
Zurich-based Hesse was established in 1997 and provides risk management and insurance to firms of all sizes in the industrial and service provider sectors.
According to Gallagher, the acquired businesses will be rebranded in the coming months. As part of the transition process, Guido Hesse will cease working on day-to-day operations as CEO, and will instead focus on strategic leadership as chairman of the board.
The firm will also open a new branch in Geneva, to be headed by Anthony Faessler, which will significantly increase its employee headcount.
“As a fully integrated part of Gallagher in Switzerland we are in a strong position to offer our clients the best solutions both in the national and international arena,” said Hesse. “Additionally, we are expanding our office network and investing in digitalization to improve the exchange of data and information with our clients and partners by implementing an improved IT system, which will create added value for both our clients and for us.”
Meanwhile, Stephan Bachmann has been appointed as the venture’s CEO, succeeding Hesse. As a member of the executive management team, he was previously in charge of international clients and property insurance, overseeing national and international industrial clients. Bachmann previously held various leadership positions at well-known international industrial insurers in Switzerland and abroad.
“Creating a wholly owned on-the-ground Gallagher presence in the strong economy of Switzerland, with its mature and globally significant insurance market, is another exciting development in our current European expansion,” said Vyvienne Wade, chairperson of Gallagher Global Broking in Europe, the Middle East, & Asia.
“The Hesse & Partner team has an excellent reputation for providing innovative solutions for industrial and commercial clients and it is known for its exceptional industry expertise in the increasingly important waste-to-energy sector. We have built a strong rapport with the firm and under the leadership of Stephan the team will play an important role in our development and growth in Switzerland.”