August 20 (SeeNews) - US insurance brokerage and risk management and consulting services firm Arthur J Gallagher & Co said it has acquired a majority stake in Turkish specialty broker Brokers' House which has been a Gallagher Global Network partner since 2014.
"This is a unique opportunity for Gallagher to directly enter the Turkish specialty broking market with a team that is already well known to us," J. Patrick Gallagher, Jr., Chairman, President and CEO, said in a press release last week.
You can subscribe to our M&A newsletter here
Financial details of the deal were not disclosed.
Istanbul-headquartered Brokers' House is a commercial insurance and facultative reinsurance broker offering commercial and specialty coverages, including property, financial lines, energy, engineering and marine cargo.