Arthur J. Gallagher & Co, a global insurance brokerage, risk management and consulting services firm, said on Monday that its claims and risk management solutions subsidiary, Gallagher Bassett, had acquired W K Webster & Co Ltd.
However, the company did not disclose any financial details of the agreement.
Based in London, W K Webster is specialized in marine and transit claims management, as it provides comprehensive services to insurers and self-insured corporations worldwide.
“As a leader in marine and transit claims services, W K Webster brings longstanding market expertise and expands Gallagher Bassett’s specialty capabilities globally,” J. Patrick Gallagher, Jr., Chairman, President and Chief Executive Officer, said in a press release.
“I am excited to welcome Anthony and his team to our growing Gallagher family of professionals,” the CEO added.
Stock Performance
The shares of Arthur J. Gallagher & Co (AJG) closed 0.93% ($2.79) higher at $301.82 in New York on Friday.
The company’s total market cap now stands at $75.396 billion.
The shares of Arthur J. Gallagher & Co (AJG) went up 26.22% in 2024, compared with a 23.30% gain for the benchmark index, S&P 500 (SPX).
The company’s shares have risen another 6.33% so far this year.
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