Insurance coverage brokerage and danger administration providers firm Gallagher has expanded its European footprint with the acquisition of German specialty dealer Köberich Monetary Traces.
The deal consideration was not made public.
Köberich’s experience lies in administrators and officers (D&O) insurance coverage and numerous different monetary traces belongings together with warranties & indemnities, cyber, crime {and professional} indemnity insurance coverage.
Established in 2009 by Harald Köberich, the corporate’s consumer base spans numerous sectors similar to engineering, vitality, manufacturing, mining and development.
Harald Köberich and his staff will proceed to serve of their current roles and combine into the European operations of Gallagher underneath Alex Nagler’s management.
Alex Nagler, who joined because the CEO for Gallagher Europe in September final 12 months, is heading the operations within the area and works on executing the corporate’s enlargement plans.
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This strategic transfer signifies the primary on-the-ground broking staff of Gallagher in Germany.
The acquisition additionally enhances Gallagher’s present operations in Norway, Sweden, Liechtenstein, Turkey and Switzerland.
Nagler stated: “This acquisition presents an amazing alternative to enter into the German specialty monetary traces market and allow the staff to construct on its providing by our current world experience.”
Commenting on the brand new deal, Harald stated: “That is an thrilling milestone for our staff and turning into a part of a worldwide dealer like Gallagher will allow us to take the enterprise to its subsequent stage of evolution, including broader capabilities, deeper trade experience and larger entry to worldwide markets.
“Because the founding father of Köberich when it was fashioned some 15 years in the past, I wished to ensure we turned a part of a enterprise with a culturally like-minded staff of colleagues who share our values and our dedication to placing our purchasers first, so I really feel Gallagher is a good match for us.”
Earlier this month, Gallagher employed Nepomuk Loesti from AIG because the chief industrial officer for its European broking operations.
Loesti’s position might be pivotal in driving the corporate’s progress technique throughout Europe, with a concentrate on markets outdoors the UK. He’ll report back to Nagler within the new position.
