Arthur J. Gallagher & Co has acquired São Paulo, Brazil-based life insurance broker Interbrok Group. Terms of the transaction were not disclosed.
It follows the agreement to buy Buck in a deal worth up to $660m which was announced earlier this week and Minnesota-based employee benefits consultancy Mahowald Insurance that was revealed earlier this month.
Founded in 1976, Interbrok Group is a retail insurance broker offering a variety of commercial and personal insurance products and services to clients throughout Brazil.
Angeles de Magalhães, Anselmo do Ó de Almeida, José Roberto Borelli, Luis Arthur A. David, Anthony Wyles, Edson Hirazaki and their team will remain in their current location under the direction of Rodrigo Protasio, CEO of Gallagher’s retail insurance brokerage operations in Brazil, and country manager Luiz Araripe following the acquisition.
Patrick Gallagher, Jr., chairman, president and CEO of Gallagher, said: “Interbrok Group has a rich history of client-focused service and will expand our footprint significantly in Brazil.
“I am delighted to welcome the Interbrok team to our growing, global company.”