RTTNews | Apr 19, 2021 04:11AM EDT

04:11 Monday, April 19, 2021 (RTTNews.com) - Arthur J. Gallagher & Co. (AJG), an insurance brokerage, risk management and consulting services firm, announced Monday that it has agreed to a strategic partnership with MIG Holding Ltd.

Under the deal, the company will take a minority interest in Middle East & North Africa or MENA specialist insurance broker ACE.

Subject to the necessary regulatory approvals, Gallagher will take a 30% minority interest in the ACE entities and MIG Group will retain a 70% interest.

ACE is an insurance, reinsurance and employee benefits broker with operations in seven countries. Under the direction of President and CEO of MIG Group, Nagib Bahous, ACE's team of over 240 employees operate from offices across Saudi Arabia, Kuwait, the United Arab Emirates, Bahrain, Oman, Greece and Lebanon.

Patrick Gallagher, Jr., Chairman, President and CEO, said, "Our strategic investment in ACE enhances Gallagher's international presence in the Middle East and expands our insurance and reinsurance capabilities across the region. We look forward to working with Nagib and his associates, and are excited about the many growth opportunities this partnership offers."

Read the original article on RTTNews ( https://www.rttnews.com/3185839/arthur-j-gallagher-co-invests-in-ace-through-strategic-partnership-with-mig-holding.aspx)

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