US-based insurance brokerage and risk management services firm Arthur J. Gallagher & Co. (AJG) has acquired Australia-based Blue Holdings.
Terms of the transaction have not been disclosed.
Arthur J. Gallagher & Co. chairman, president and CEO J. Patrick Gallagher, Jr., said: "Blue is a good example of how we continue to find new acquisition partners that fit well within our international platforms.
"Its strong presence will add to our national brokerage footprint and its national insolvency practice will be a wonderful new niche specialization for us. Blue will be an excellent complement to our Australian operations, and we are pleased to welcome Richard and his colleagues to our growing Gallagher family of professionals."
Founded in 2005, Blue Holdings is an insurance broker and risk management services firm, which offers retail property/casualty and insolvency insurance products and services primarily for its middle-market clients throughout the country.
The company is also specialized in providing coverages for the construction, transportation, engineering, mining and professional services industries.
Under the leadership of Gallagher’s Australian brokerage operation head Andrew Godden, Blue’s CEO Richard Smith and his associates will continue to operate from their Brisbane, Perth, Sydney, Melbourne and Townsville locations.
With operations in around 30 countries, AJG provides client-service capabilities in about 140 countries across the globe through a network of correspondent brokers and consultants.
Earlier this week, AJG also acquired Australia-based Instrat Insurance Brokers, which is an nsurance broker and risk management services firm that offers etail property/casualty insurance products and services for small to middle-market commercial and individual clients.
Image: Blue Holdings is specialized in providing coverages for the construction, transportation, engineering, mining and professional services industries. Photo: courtesy of Stuart Miles/ FreeDigitalPhotos.net.