Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Boston Marks Insurance NZ in New Zealand, BMG Aviation in Australia and the book of business of Boston Marks Insurance Brokers in the United Kingdom; all part of the Boston Marks Group. Terms of the transaction were not disclosed.
Founded in 1985 as an independent insurance and reinsurance broker for the aviation sector, Boston Marks Group today offers retail property/casualty brokerage services to a broad range of government, commercial and private aviation and aerospace clients from offices in Auckland and Papakura in New Zealand; Gold Coast, Queensland and Perth, Western Australia in Australia; and London, England. Pat McLaughlan and his associates in New Zealand will continue to operate from their current location under the direction of Carl O'Shea, New Zealand CEO. Damian Hooper and his associates in Australia will continue to operate from their current location under the direction of Paul Harvey, Managing Director of Specialisms. Phil Stafford and colleagues will join Gallagher's London office under the direction of Mark Walters, Executive Director, Aviation.
"Boston Marks' highly specialized offerings significantly expand our international brokerage capabilities in the aviation sector, in particular in the Australian and New Zealand markets," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am very excited to welcome Pat, Damian, Phil and their associates to our growing Gallagher family of professionals."
"Boston Marks is a great fit for Gallagher; they have fantastic people and are a strong global player in the specialist aviation insurance market. Gallagher has a history of growth in the specialist sectors and Boston Marks will contribute meaningful to our global aviation capabilities," said Steve Lockwood, Managing Director of Gallagher Australia and New Zealand.
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
VP - Investor Relations
