Arthur J. Gallagher & Co. Acquires Wrightway Underwriting Limited

Rhea-AI Summary

Arthur J. Gallagher & Co. announced the acquisition of Wrightway Underwriting , a managing general agent specializing in motor and liability coverages for the haulage and fleet sector in Ireland. The terms of the deal were not disclosed. Wrightway will now operate under Gallagher's subsidiary, Pen Underwriting, with David Crean continuing to lead the team, alongside Linda Roberts and Mary Lyons. The acquisition aims to enhance Gallagher's capabilities and provide growth opportunities within the Irish market. Arthur J. Gallagher & Co. is a global insurance brokerage and consulting services firm headquartered in Rolling Meadows, Illinois, operating in around 130 countries.

Positive

• Acquisition aims to enhance Gallagher's capabilities in motor and liability coverages.
• Provides growth opportunities in the Irish market.
• Wrightway team, including experienced leaders, will remain in place, ensuring continuity.
• Strengthens Gallagher’s global team and specialist capabilities.

Negative

• Terms of the acquisition were not disclosed, creating uncertainty about financial impact.
• Potential integration risks with merging Wrightway's operations into Pen Underwriting.

ROLLING MEADOWS, Ill., June 5, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced that its specialist underwriting subsidiary Pen Underwriting has acquired Wexford, Ireland-based Wrightway Underwriting Limited (Wrightway). Terms of the transaction were not disclosed.

Wrightway is a managing general agent (MGA) providing motor and liability coverages for the haulage and fleet sector across Ireland through its independent broker clients, as well as other commercial and personal insurance products. The business will become part of Pen Underwriting, and David Crean will continue to lead the team from its current location alongside Linda Roberts and Mary Lyons.

"Wrightway brings a reputation for client excellence, complements Pen's existing specialist capabilities and provides further growth opportunities for our Ireland operations," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am delighted to welcome David, Linda, Mary and their colleagues to our growing, global team."

Arthur J. Gallagher & Co. (NYSE: AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.

Investors: Ray Iardella, VP - Investor Relations	Media: Paul Day, Communications Manager
630-285-3661/ ray_iardella@ajg.com	630-285-5946/ paul_day1@ajg.com

 

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SOURCE Arthur J. Gallagher & Co.

FAQ

What company did Arthur J. Gallagher & Co. acquire?

Arthur J. Gallagher & Co. acquired Wrightway Underwriting

When did Arthur J. Gallagher & Co. announce the acquisition of Wrightway Underwriting ?

The acquisition was announced on June 5, 2024.

What sector does Wrightway Underwriting specialize in?

Wrightway specializes in motor and liability coverages for the haulage and fleet sector.

Who will continue to lead Wrightway Underwriting ?

David Crean, along with Linda Roberts and Mary Lyons, will continue to lead the team.

What is the stock symbol for Arthur J. Gallagher & Co.?

The stock symbol for Arthur J. Gallagher & Co. is AJG.

How will the acquisition of Wrightway Underwriting benefit Arthur J. Gallagher & Co.?

The acquisition aims to enhance Gallagher's specialist capabilities and provide growth opportunities in the Irish market.

How many countries does Arthur J. Gallagher & Co. operate in?

Arthur J. Gallagher & Co. operates in approximately 130 countries.