Arthur J. Gallagher & Co. announced that its specialist underwriting subsidiary Pen Underwriting has acquired 100% of UK-based Manchester Underwriting Agencies Ltd. and its wholly owned subsidiary, Manchester Underwriting Management Ltd. (MUM).
Terms of the transaction were not disclosed.
Founded in 2010 by Charles Manchester as a specialist underwriting agency, MUM has grown organically and through bolt-on acquisitions into a multi-class, full-service managing general agent (MGA) with five locations in the UK. MUM specializes in providing professional indemnity and management liability coverages for SMEs through its independent retail broker clients. The business will become part of Pen Underwriting and Charles Manchester will continue to lead MUM.
Manchester is chairman of the UK Managing General Agents Association (MGAA).
“MUM is a highly regarded specialist underwriting agency that will be a fantastic addition to the Pen family,” said J. Patrick Gallagher Jr., chairman, president and CEO. “It brings a complementary book of business and deep market expertise. We are delighted to welcome Charles and his associates to our growing global team.”
Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Ill. The company has operations in 57 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
Source: Arthur J. Gallagher & Co.
Topics Mergers & Acquisitions Agencies Underwriting Insurance Wholesale A.J. Gallagher
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