ROLLING MEADOWS, Ill.,
June 25, 2019 /PRNewswire/
-- Arthur J. Gallagher & Co. today announced that it
has signed an agreement to purchase a minority stake in
Prague-based Renomia a.s. The deal
is subject to regulatory approval and is expected to close in the
third quarter of 2019.
Founded in 1993 by Jirina Nepalova and her sons, Jiri and Pavel,
Renomia is the largest independent broker based in the Central and
Eastern European (CEE) region, with more than 1,500 colleagues
serving clients under the Renomia brand, via its extensive
franchise partner network. Primarily serving commercial clients,
Renomia has grown rapidly, both organically and through strategic
acquisitions, and now has full-scale broking operations in seven
countries — Czech Republic,
Slovakia, Romania, Hungary, Serbia, Bulgaria and Croatia -- as well as an extensive franchise
network in the rest of the CEE region.
"Renomia is a very strong, family-run business that has been a
valued participant in Gallagher's strategic broker partner network,
Gallagher Global Alliance, for 15 years," said J. Patrick Gallagher, Jr., Chairman, President and
CEO. "Our companies share a similar culture and values, and we are
thrilled to further solidify our partnership."
"Our international expansion story continues to be one of
investing in economies where we can see a strong opportunity for
growth, complementary to our specialisms, and where we find a
strong local partner who is well-aligned culturally and shares our
ambition, client focus and ethics," said Vyvienne Wade, CEO of Gallagher's international
property/casualty brokerage operations. "Renomia fits that
definition perfectly."
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 35 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.