Arthur J. Gallagher & Co. has acquired Interbrok Group in São Paulo, Brazil.
The terms of the acquisition were not disclosed.
Interbrok Group – founded in 1976 – is a retail insurance broker that provides a range of commercial and personal insurance products and services to clients throughout Brazil.
Following the acquisition, Interbrok executives Angeles de Magalhães, Anselmo do Ó de Almeida, José Roberto Borelli, Luis Arthur A. David, Anthony Wyles, Edson Hirazaki and their team will remain in their current location and will report to Gallagher CEO of Brazil retail insurance brokerage operations Rodrigo Protasio and country manager Luiz Araripe.
"Interbrok Group has a rich history of client-focused service and will expand our footprint significantly in Brazil," said Gallagher chairman, president, and CEO J. Patrick Gallagher, Jr. "I am delighted to welcome the Interbrok team to our growing, global company."
The announcement of Gallagher’s acquisition of Interbrok comes a day after the global brokerage announced that it was acquiring BCHR Holdings, L.P., dba Buck. Buck is a leading provider of retirement, HR, and employee benefits consulting and administration services, with over 2,300 employees serving clients in the US, Canada, and the UK. Gallagher said that the $660 million acquisition of Buck would make it the company’s largest HR benefits acquisition to date.