Re/insurance broker Arthur J. Gallagher & Co. has announced the successful acquisition of Köberich Financial Lines (Köberich), based in Cologne, Germany.
The terms of the transaction were not disclosed.
Köberich specialises in financial lines products and is renowned as a prominent insurance broker in the German market.
Following the acquisition, Harald Köberich and his experienced team will operate under the guidance of Alex Nagler, the head of Gallagher’s retail property/casualty brokerage operations in Europe.
J. Patrick Gallagher, Jr., Chairman and CEO of Arthur J. Gallagher & Co., expressed enthusiasm about the strategic move, stating, “Köberich complements Gallagher’s existing financial lines expertise and is an excellent strategic fit as we continue to expand in Europe. I am very pleased to welcome Harald and his associates to our growing, global team.”
With operations spanning approximately 130 countries, Arthur J. Gallagher & Co. is poised to leverage Köberich’s specialised financial lines capabilities to enhance its presence and services in the European market.