International insurance brokerage and risk management firm Arthur J Gallagher & Co has purchased a minority stake of 21.3% in Mexcio based insurance broker Casanueva Perez (Grupo CP).

Terms and conditions of the transaction have not been disclosed.

Chairman, president and CEO J Patrick Gallagher, Jr said the acquisition will strengthen its international presence, and enable the company to provide various services and geographic coverage to clients in Mexico.

Grupo CP has a team of 325 staff and also trades as a risk management company in Mexico City, Celaya, Hermosillo, Monterrey and Torreon.

The company caters commercial retail property/casualty, risk management, affinity, reinsurance and employee benefits services to their clients across the country through its major brands of Interproteccion, Reasinter, Seguro Listo, and Aterna.

Headquartered at Illinois, Arthur trades in 17 geographies and delivers client-service capabilities in more than 110 nations around the globe through a network of correspondent brokers and consultants.