Arthur J Gallagher, an insurance brokerage and risk management services firm, has acquired Norway-based Bergvall Marine, as part of its ongoing strategy to boost business footprint in the region.
With a history dating back to 1896, Bergvall Marine’s annualized revenues total approximately $5m.
Bergvall Marine operates as retail insurance broker and offers an array of marine insurance products and risk management insurance services for its international clients.
The acquired operation specializes in placing coverage for ship owners and managers, offshore contractors, ship yards and finance institutions and deliver both the traditional types of coverage and the development of more complex, custom-made solutions.
Under the terms of the transactiom, Bergvall Marine managing director Anders Mjaaland and his colleagues will remain working from their current Oslo location under the direction of Vyvienne Wade, head of Gallagher’s London-based international commercial operations.
Arthur J Gallagher chairman, president and CEO J Patrick Gallagher said, "Bergvall Marine is well-known in the insurance industry for its depth of marine expertise and dedication to the highest quality client service."
"Bergvall’s emphasis on growth, presence in one of the world’s top marine markets, and specialized expertise will be an excellent complement to our international marine and energy operations."
Arthur J Gallagher & Co operates in 23 nations and offers client-service capabilities in more than 140 countries globally, leveraging a network of correspondent brokers and consultants.
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Image: Arthur J Gallagher purchases Bergvall Marine. Photo courtesy of Stuart Miles.