US-based insurance coverage brokerage Arthur J Gallagher & Co has continued its progress trajectory with the purchases of Fender Marine and The Andersen Group.
The corporate executed the Fender Marine deal by means of its UK-based specialist underwriting unit, Pen Underwriting.
Norway-based Fender Marine is a managing normal agent (MGA) that focuses on marine hull and safety & indemnity (P&I) cowl for smaller fleets and specialist working vessels.
It additionally presents cowl for cargo and subsea tools, in addition to yachts and pleasure craft.
With a presence in Bergen and Oslo, Fender Marine will now be part of Pen Underwriting.
Its CEO Ola Skauge will proceed to spearhead the enterprise with founders Tore Hoisaether and Christian Lien.
Arthur J Gallagher chairman, president and CEO J Patrick Gallagher, Jr acknowledged: “Fender is a extremely regarded agency with a wonderful monitor document of progress whose areas of marine experience complement Pen’s present capabilities and supply a platform for worldwide growth.
“We’re more than happy to welcome Ola, Tore, Christian and their associates to our rising, world group.”
Retail insurance coverage company the Andersen Group caters to non-profit commerce associations, engineering providers corporations, and authorities contractors within the Larger Washington, DC area.
Founder Frank Andersen and his group will now work underneath the supervision of Gallagher Mid-South retail property/casualty brokerage operations head Bumpy Triche.
The monetary phrases of each offers weren’t revealed.
Amongst different most up-to-date offers of Arthur J Gallagher embody its acquisitions of US-based industrial P&C company Leavitt Insurance coverage Companies and Swiss fantastic arts insurance coverage dealer AccurART.