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Arthur J. Gallagher Expands in Australia with Latest Buyout
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Arthur J. Gallagher & Co. (AJG - Free Report) recently acquired Ace IRM Insurance Broking Group to expand its presence in Australia. Terms of the deal remained undisclosed.
Beenleigh, Queensland-based Ace IRM Insurance is a retail insurance brokerage company that was established in 1981. The company caters to its clients in Australia by providing commercial and personal lines broking services. Ace IRM Insurance is an expert in providing insurance coverage for strata management and veterinary services. It offers its services to the commercial, industrial and hotel/hospitality industries. Ace IRM Insurance boasts solid presence in the key growth areas of south Brisbane and hence, the acquisition is a strategic fit for Arthur J. Gallagher. We expect the buyout to help the acquirer to emerge as a market leader in Queensland and subsequently leverage its presence in Australia.
Arthur J. Gallagher remains focused on strategic acquisitions that strengthen as well as add capabilities to its portfolio. The company’s impressive growth is driven by organic sales, acquisition and mergers. Buyouts not only widen the company’s geographical footprint but also enhance its portfolio of services. Furthermore, such deals strengthen its position in retail and wholesale insurance brokerage services and risk management industries.
This marks the 10th buyout by the company in 2017. Notably, Arthur J. Gallagher has already surpassed year-ago quarter count, wherein the insurance broker had closed eight acquisitions with annualized revenues of $30.0 million.
Shares of Arthur J. Gallagher have gained 9.60% year to date, outperforming the Zacks categorized Insurance Broker industry’s 5.74% increase.
Insurers often opt for strategic buyouts to drive growth. No wonder mergers and acquisitions dominate the space. This quarter, Assurant, Inc. (AIZ - Free Report) inked a deal to buy Green Tree Insurance Agency, Inc. from Walter Investment Management Corp. to strengthen its capabilities in the housing market. On the other hand, Brown and Brown Inc. (BRO - Free Report) announced that its unit has acquired the commercial MGA operations of Insurance House.
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Arthur J. Gallagher Expands in Australia with Latest Buyout
Arthur J. Gallagher & Co. (AJG - Free Report) recently acquired Ace IRM Insurance Broking Group to expand its presence in Australia. Terms of the deal remained undisclosed.
Beenleigh, Queensland-based Ace IRM Insurance is a retail insurance brokerage company that was established in 1981. The company caters to its clients in Australia by providing commercial and personal lines broking services. Ace IRM Insurance is an expert in providing insurance coverage for strata management and veterinary services. It offers its services to the commercial, industrial and hotel/hospitality industries. Ace IRM Insurance boasts solid presence in the key growth areas of south Brisbane and hence, the acquisition is a strategic fit for Arthur J. Gallagher. We expect the buyout to help the acquirer to emerge as a market leader in Queensland and subsequently leverage its presence in Australia.
Arthur J. Gallagher remains focused on strategic acquisitions that strengthen as well as add capabilities to its portfolio. The company’s impressive growth is driven by organic sales, acquisition and mergers. Buyouts not only widen the company’s geographical footprint but also enhance its portfolio of services. Furthermore, such deals strengthen its position in retail and wholesale insurance brokerage services and risk management industries.
This marks the 10th buyout by the company in 2017. Notably, Arthur J. Gallagher has already surpassed year-ago quarter count, wherein the insurance broker had closed eight acquisitions with annualized revenues of $30.0 million.
Shares of Arthur J. Gallagher have gained 9.60% year to date, outperforming the Zacks categorized Insurance Broker industry’s 5.74% increase.
Insurers often opt for strategic buyouts to drive growth. No wonder mergers and acquisitions dominate the space. This quarter, Assurant, Inc. (AIZ - Free Report) inked a deal to buy Green Tree Insurance Agency, Inc. from Walter Investment Management Corp. to strengthen its capabilities in the housing market. On the other hand, Brown and Brown Inc. (BRO - Free Report) announced that its unit has acquired the commercial MGA operations of Insurance House.
Everything You Need to Know About Snapchat BEFORE It Goes Public
You may be curious about the buzz surrounding Snap Inc.'s IPO on March 2. With the company expected to be valued around $22 billion, it is expected to be the largest IPO since 2014. But should you snap up this tech stock on Day 1? In the 2017 IPO Watch List, you'll get an inside look at Snap's exciting prospects and potential challenges. You'll also learn about 4 other exciting tech companies with jaw-dropping growth. Each could go public in the coming months. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the latest scoop. Download this IPO Watch List today for free >>