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SOURCE Arthur J. Gallagher & Co.
ITASCA, Ill., Dec. 17, 2013 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced that it has acquired Bergvall Marine located in Oslo, Norway. Its annualized revenues total approximately $5 million. Other terms of the transaction were not disclosed.
With a history dating back to 1896, Bergvall Marine is a retail insurance broker that provides marine insurance products and risk management insurance services for its international clients. They specialize in placing coverage for ship owners and managers, offshore contractors, ship yards and finance institutions and offer both the traditional types of coverage and the development of more complex, custom-made solutions. Managing Director, Anders Mjaaland, and his colleagues will continue to operate in their current Oslo location under the direction of Vyvienne Wade, head of Gallagher's London-based international commercial operations.
"Bergvall Marine is well-known in the insurance industry for its depth of marine expertise and dedication to the highest quality client service. It is another great example of how investing in successful niche businesses can help expand our international capabilities," said J. Patrick Gallagher, Chairman, President and CEO. "Bergvall's emphasis on growth, presence in one of the world's top marine markets, and specialized expertise will be an excellent complement to our international marine and energy operations. We are extremely pleased to welcome Anders and his outstanding team to our growing Gallagher family of professionals."
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 23 countries and offers client-service capabilities in more than 140 countries around the world through a network of correspondent brokers and consultants.
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