AJ Gallagher
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The deal could be signed later this week or at the weekend, sources said.
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After the strong organic growth from Marsh McLennan and Brown & Brown, Willis Towers Watson and AJ Gallagher followed suit with 5% growth in underlying brokerage revenues.
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With a sale of the remedy assets to AJG not yet agreed, the firms will have to choose their words carefully this week.
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The rapid execution of AJ Gallagher’s March 2019 deal to buy JLT’s aerospace broking arm “didn’t seem to sacrifice anything” in terms of due diligence or deal value process, Gallagher CEO Pat Gallagher told analysts today.
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Gallagher's brokerage business grew by 6%, while the company also said it closed 5 acquisitions in the quarter with $90mn in estimated annualized revenues.
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With around 50 members of staff across the business, the divestiture is not expected to significantly alter the competitive landscape.
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The number four broker is seeking to acquire both Willis Re and the European insurance broking businesses.
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The broker upgraded its Q1 outlook with more optimism on later quarters, and increased confidence on margins and M&A.
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According to the Capitol Form, antitrust regulators will consider the deal's impact on the world’s fourth largest insurance broker AJ Gallagher
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The broker could be preparing to raise capital to invest in upcoming M&A deals.
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Gallagher Re has hired Andrew Rothseid to the new role of head of legacy within its structured solutions practice.
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The intermediary will join Gallagher's Southwest region under Scott Firestone.