Arthur J. Gallagher Invests in Broker ACE via Partnership with Dubai’s MIG Group

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Arthur J. Gallagher Purchases Broker ACE through Collaboration with Dubai’s MIG Team

Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, revealed that it has actually consented to a tactical collaboration with MIG Holding Ltd. (MIG Team), which will certainly see the firm take a minority passion in Center East & North Africa (MENA) expert insurance policy broker ACE Broker, an MIG Team subsidiary.

Based on the needed governing authorizations, Gallagher will certainly take a 30% minority passion in the ACE entities and also MIG Team will certainly keep a 70% passion.

With a background going back to 1952, ACE is a worker, reinsurance and also insurance policy advantages broker with procedures in 7 nations and also certain know-how in aeronautics, realty, building, oil & gas, monetary lines and also residential or commercial property dangers.

Under the instructions of Nagib Bahous, head of state and also Chief Executive Officer of Dubai-based MIG Team, ACE’s group of over 240 staff members run from workplaces throughout Saudi Arabia, along with in Kuwait, the United Arab emirates, Bahrain, Oman, Greece and also Lebanon.

“Our strategic investment in ACE enhances Gallagher’s international presence in the Middle East and expands our insurance and reinsurance capabilities across the region,” stated J. Patrick Gallagher, Jr., Chairman, Head Of State and also Chief Executive Officer. “We look forward to working with Nagib and his associates, and are excited about the many growth opportunities this partnership offers.”

Resource: Arthur J. Gallagher & Co.

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Mergers
Agencies
A.J. Gallagher

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