Arthur J. Gallagher has announced the acquisition of a UK insurance broker. Terms of the transaction were not disclosed.
Illinois-headquartered Gallagher has acquired Pavey Group, a retail insurance broker with offices in Torquay, Exeter, Holsworthy and Highbridge, England. Pavey Group offers retail property-casualty insurance and risk management advice to businesses, care facilities, charities and the construction, manufacturing, agriculture and leisure sectors. Graham Brown, managing director of Pavey Group, and his associates will continue to operate from their existing locations as the company becomes part of Gallagher’s UK retail division.
“Pavey Group is a very well-respected firm with a complementary culture and mix of business that expands Gallagher’s presence in southwest England,” said J. Patrick Gallagher Jr., chairman, president and CEO of Gallagher. “We are delighted to welcome Graham and his colleagues to our growing global team.”
“Pavey Group has an excellent reputation for looking after its clients’ needs in the mid-corporate space and in specialist sectors,” said Michael Rea, chief executive of Gallagher’s UK retail division. “We really like the management team, their values and the culture they have created, and are looking forward to working together and taking the business forward.”