US underwriter conglomerate Arthur J Gallagher & Co has acquired Contego Underwriting in London, for an undisclosed sum.

Under the deal, Contego Underwriting’s Charles Parmenter and his associates will continue to trade from their current Fenchurch Avenue location under the direction of Sian Fisher, managing director of OIM Underwriting, Gallagher’s London-based managing general agent.

Arthur J Gallagher & Co chairman, president and CEO J Patrick Gallagher said Contego has an outstanding reputation for being one of the leading providers of insurance products in this area and for providing quality service through their highly experienced team.

"Their solid areas of expertise and geographic presence will be a strong complement to our OIM operations in London. We’re extremely pleased to welcome Charles and his team to our growing Gallagher family of professionals," Gallagher added.

Contego Underwriting, which trades in over 50 countries across the globe, offers underwriting services mainly to the construction and engineering industries.

Headquartered in Itasca, Illinois Arthur J Gallagher & Co operates in 17 countries and offers client service capabilities in more than 110 countries around the world through a network of correspondent brokers and consultants.