Gallagher buys Giles for £233M
Arthur J. Gallagher & Co. (AIG) has acquired the Giles Group of Companies (Giles), for £233 million in cash. AJG recently acquired Deacon Insurance, the specialist blocks of flats insurance broker.
Giles is an independent retail insurance broker, controlling and influencing gross written premium in excess of £750 million. The firm’s business also includes the insurance of blocks of flats.
AJG International CEO, David Ross said: “This transaction represents our largest ever deal in the UK, by some margin. Giles is an outstanding strategic and cultural fit. I am very excited about the range of fresh opportunities that will present themselves now that we have an increasingly broad platform.”
Giles has in excess of 1,100 employees operating out of 43 offices in England, Scotland,Wales, Northern Ireland, Isle of Man and the Channel Islands. The combined operation will have approximately 70 offices and 3,100 staff in the UK.
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