Arthur J. Gallagher & Co. Acquires Erimus Group Limited

Rhea-AI Summary

Arthur J. Gallagher announced the acquisition of Erimus Group Limited, an established retail insurance broker located in Tees-side, England. The transaction strengthens Gallagher's position in the North East of England and is expected to expand their regional presence. Erimus, founded in 1986, serves a range of commercial clients with products like cyber and employers liability insurance. The deal aligns with Gallagher's UK Retail division and will see Erimus's leadership reporting to regional management. Financial details of the transaction were not disclosed.

Positive

• Strategic acquisition enhances Gallagher's regional presence in North East England.
• Erimus offers diverse insurance products, increasing Gallagher's service capabilities.

Negative

• None.

ROLLING MEADOWS, Ill., June 28, 2022 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Erimus Group Limited ("Erimus"). Terms of the transaction were not disclosed.

Founded in 1986 and based in Tees-side, England, Erimus is an established retail insurance broker with a strong presence in the North East of England, serving a mainly regional commercial client base. Product offerings include commercial combined, business interruption, commercial property, cyber, D&O and employers liability insurance The firm, which is headed up by Paul Davison, will become part of Gallagher's UK Retail division, which serves local and national businesses across the UK. Paul will report to Elliot Miller, Regional Managing Director of Scotland, Northern Ireland and the North East.

"We are delighted to welcome the Erimus team to Gallagher. This business is a great fit with our UK retail operations and provides us with a fantastic opportunity to expand our regional presence in England," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "We look forward to working with Paul and his colleagues to expand their service offerings."

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 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.

Investors:  Ray Iardella	Media:  Linda J. Collins
VP – Investor Relations	VP – Corporate Communications
630-285-3661/ ray_iardella@ajg.com	630-285-4009/ linda_collins@ajg.com

 

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SOURCE Arthur J. Gallagher & Co.

FAQ

What is the purpose of Gallagher's acquisition of Erimus Group Limited?

The acquisition aims to enhance Gallagher's regional presence in North East England and expand its service offerings.

When was the acquisition of Erimus Group Limited announced?

The acquisition was announced on June 28, 2022.

What are the expected benefits of acquiring Erimus Group Limited for AJG?

The expected benefits include a broader market reach and enhanced product offerings in insurance.

What type of company is Erimus Group Limited?

Erimus is a retail insurance broker serving regional commercial clients, offering various types of insurance services.

How will Erimus Group Limited integrate into Arthur J. Gallagher?

Erimus will become part of Gallagher's UK Retail division, with its leadership reporting to regional management.