Arthur J. Gallagher & Co. has acquired Hann Insurance Brokers Pty Ltd., a firm based in Lambton, New South Wales, Australia.
Hann Insurance Brokers specializes in property and casualty insurance for commercial clients, with a particular focus on the transportation sector.
Rhett Hann, along with his team, will integrate into Gallagher’s Newcastle, New South Wales office. The team will operate under the leadership of Sarah Lyons, who oversees Gallagher’s retail property and casualty brokerage operations in Australia and Asia.
J. Patrick Gallagher, Jr., Chairman and CEO of Arthur J. Gallagher & Co., emphasized the strategic value of the acquisition, noting the alignment with Gallagher's goals for growth in the region and expertise in specialized markets.
"Hann Insurance Brokers' strong client relationships and transport niche expertise will expand our retail brokerage capabilities in Australia," said Gallagher, Jr.
With its headquarters in Rolling Meadows, Illinois, Arthur J. Gallagher & Co. operates as a global provider of insurance brokerage, risk management, and consulting services. The firm conducts business in approximately 130 countries, leveraging its owned operations and a network of correspondent brokers and consultants.
In the fourth quarter of 2023, Gallagher's brokerage segment reported revenues of $2,051.5 million, a 20% increase from $1,704.3 million in the same period of 2022. This growth reflects the company’s ongoing efforts to expand its operations and strengthen its position in the global market.
The acquisition of Hann Insurance Brokers is part of a broader strategy by Gallagher to enhance its global presence and diversify its portfolio. I
How might this impact the Australian commercial insurance market? Readers are encouraged to share their views.
