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Insurance coverage brokerage and threat administration companies 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 property together with warranties & indemnities, cyber, crime {and professional} indemnity insurance coverage.
Established in 2009 by Harald Köberich, the corporate’s shopper base spans numerous sectors corresponding to engineering, vitality, manufacturing, mining and development.
Harald Köberich and his crew will proceed to serve of their present 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 crew of Gallagher in Germany.
The acquisition additionally enhances Gallagher’s present operations in Norway, Sweden, Liechtenstein, Turkey and Switzerland.
Nagler stated: “This acquisition presents a terrific alternative to enter into the German specialty monetary traces market and allow the crew to construct on its providing via our present international experience.”
Commenting on the brand new deal, Harald stated: “That is an thrilling milestone for our crew 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 higher entry to worldwide markets.
“Because the founding father of Köberich when it was shaped some 15 years in the past, I needed to verify we turned a part of a enterprise with a culturally like-minded crew of colleagues who share our values and our dedication to placing our shoppers 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 will likely be pivotal in driving the corporate’s development technique throughout Europe, with a concentrate on markets exterior the UK. He’ll report back to Nagler within the new position.
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