.jpg)
Insurance giant Gallagher has announced the acquisition of Portmore Insurance Brokers Limited and Portmore Insurance Brokers (Wiltshire) Limited (“Portmore”). Terms of the deal have not been disclosed.
Southampton-based Portmore was established in 2006 as a mid-market focused commercial insurance broker offering tailored insurance programs for both private and public sector businesses. The firm’s founders and joint managing directors, Graham Jacobs and Paul Chapman, have led Portmore through strong organic growth.
Following the deal with global insurance broker, risk management services and consulting firm Gallagher, Portmore’s team of around 40 insurance professionals will join Gallagher’s Retail branch network, which has more than 50 locations around the UK.
“Becoming part of a locally-focused but globally-backed insurance broker and risk management services firm enables us to take our business to the next level of expansion, as we look to develop and deliver ever more specialised and bespoke solutions for our clients,” Jacobs commented. “As a partner, Gallagher offers a great blend of complementary expertise, scale and geographic spread, while at the same time sharing our client-focused values of service excellence, professional integrity and teamwork. We’re excited for what the future holds.”
Gallagher CEO of UK Retail, Michael Rea, hopes the acquisition of Portmore will help the firm become the “pre-eminent commercial broker on the South Coast.” He described Portmore as “an excellent fit” for Gallagher’s strategy in the UK.
“It’s fantastic to welcome the team from Portmore into the Gallagher family today,” Rea added. “They’re exactly the right type of well-run, commercially led, growing regional broker we’re looking for to further strengthen and complement our existing UK branch network.”
