UK Broker Network Compass Completes Management Buyout from Gallagher

UK broker network Compass has completed a management buyout from Arthur J. Gallagher, for an undisclosed sum.

The deal sees the Compass business transfer into wholly independent ownership for the first time since its launch as a new network proposition for the UK’s broker community in January 2013.

It became part of Arthur J. Gallagher in November 2013, following Gallagher’s acquisition of the Giles Group.

Now that the company has achieved the necessary size and scale, it is the right time to be independent, said Managing Director John Lincoln, who will lead the management team, which remains unchanged.

“Our focus and commitment remains the same – to deliver what our expanding community of members needs to achieve their own growth ambitions, through the same high quality, dedicated and professional team of seasoned network specialists, as well as providing them with access to our London market placement operation for difficult or complex risks,” Lincoln said.

“I’d like to thank the team at Gallagher for its fantastic support over the last three years and we look forward to continuing to work collaboratively to ensure our members benefit from the diverse range of specialisms and expertise that Gallagher has to offer.”

Since becoming part of Arthur J. Gallagher in November 2013, gross written premium controlled by Compass members has increased 65 percent to more than £660 million ($850.3 million).

About Compass

London-based Compass offers a choice of two network partnerships for independent insurance brokers, “each designed to allow brokers to grow their business independently while being able to call upon Compass’ support, experience and industry know-how,” the company said.

The “Select” network partnership is designed for brokers generating more than £3 million ($3.9 million) gross written premium, offering valued support, enhanced market access, superior commissions and a wider product range.

The “Westinsure” partnershipis described as a low-cost national alliance for independent insurance brokers, with no restrictions on how or where they place business.

Source: Compass

Topics Agencies A.J. Gallagher