Arthur J. Gallagher & Co. Invests in Specialist Insurance coverage Dealer ACE by Strategic Partnership with MIG Holding Ltd

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ROLLING MEADOWS, In poor health., April 19, 2021 /PRNewswire/ — Arthur J. Gallagher & Co. (NYSE: AJG) immediately introduced that it has agreed to a strategic partnership with MIG Holding Ltd (MIG Group), which can see the corporate take a minority curiosity in Center East & North Africa (MENA) specialist insurance coverage dealer ACE.

Topic to the required regulatory approvals, Gallagher will take a 30% minority curiosity within the ACE entities and MIG Group will retain a 70% curiosity.

With a historical past courting again to 1952, ACE is an insurance coverage, reinsurance and worker advantages dealer with operations in seven nations and specific experience in aviation, actual property, development, oil & fuel, monetary traces and property dangers. Below the route of President and CEO of MIG Group, Nagib Bahous, ACE’s group of over 240 staff function from places of work throughout Saudi Arabia, in addition to in Kuwait, the United Arab Emirates, Bahrain, Oman, Greece and Lebanon.

“Our strategic funding in ACE enhances Gallagher’s worldwide presence within the Center East and expands our insurance coverage and reinsurance capabilities throughout the area,” stated J. Patrick Gallagher, Jr., Chairman, President and CEO. “We sit up for working with Nagib and his associates, and are excited concerning the many progress alternatives this partnership provides.”

Arthur J. Gallagher & Co., a worldwide insurance coverage brokerage, danger administration and consulting companies agency, is headquartered in Rolling Meadows, Illinois. The corporate has operations in 56 nations and provides client-service capabilities in additional than 150 nations around the globe by a community of correspondent brokers and consultants.

Buyers:  Ray Iardella

Media:  Linda J. Collins   

VP – Investor Relations

VP – Company Communications

630-285-3661/ [email protected]

630-285-4009/ [email protected]

SOURCE Arthur J. Gallagher & Co.

Associated Hyperlinks

http://www.ajg.com

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