Arthur J. Gallagher & Co’s reinsurance division, Gallagher Re, has acquired Canada-based MGB Re (MGB).
Terms of the transaction were not disclosed.
MGB provides reinsurance solutions to health maintenance organisations (HMOs), managing general underwriters (MGUs) and insurance companies across the North American medical sector.
The MGB leadership team of Andrew Barth, Jacqueline Greer and Thomas McGrath will operate under the direction of Jim Fallon, Gallagher Re’s eastern region manager in North America and Rob Fast, life, accident and health segment leader in North America.
Patrick Gallagher Jr, chairman and CEO, said: “MGB’s strong client relationships and expertise will accelerate the growth of our medical reinsurance business and broaden our service offerings.
“I am very pleased to welcome Andrew, Jacqueline and Thomas to our growing, global team.”
