PR Newswire | Aug 12, 2021 03:00AM EDT

08/12 02:00 CDT

Arthur J. Gallagher & Co. Acquires Majority Stake in Brokers' House ROLLING MEADOWS, Ill., Aug. 12, 2021

ROLLING MEADOWS, Ill., Aug. 12, 2021 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced that it has purchased a majority stake in Turkish specialty broker Brokers' House (BH Sigorta ve Reasrans Brokerligi A.S.). Terms of the transaction were not disclosed.

Based in Istanbul, Brokers' House is a commercial insurance and facultative reinsurance broker offering clients a broad range of commercial and specialty coverages, including property, financial lines, energy, engineering and marine cargo. Brokers' House has been a Gallagher Global Network partner since 2014. The current leadership team of Gndz Tezel and Levent zbilen will remain with the business.

"This is a unique opportunity for Gallagher to directly enter the Turkish specialty broking market with a team that is already well known to us," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "We look forward to working more closely with Gndz, Levent and their colleagues to expand their client product and service offerings."

Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 57 countries and offers client service capabilities in more than 150 countries around the world through 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.