Gallagher has announced the acquisition of Lifesure Group Limited in a move to expand its personal lines and SME operations.
Founded in 1971, Lifesure provides insurance broking services tailored to the holiday and leisure industry, with a product portfolio that includes park home, motorhome, holiday caravan, leisure home, car, and home insurance. It has a team of 50 professionals and is headed by managing director Paul Reid.
The acquisition of Lifesure will see Gallagher grow its existing presence in the leisure industry and enhance its offering in this specialist market. As part of the transaction, the broker is also set to acquire Barnes Commercial, which operates from the same St Neots, Cambridgeshire office as Lifesure.
Barnes Commercial caters to small-to-medium businesses across a range of industries, including healthcare and medical, construction, manufacturing, accountancy, and veterinary services. Both Lifesure and Barnes Commercial will become part of Gallagher’s UK & Ireland retail division.
“I am very pleased to welcome the Lifesure team and its clients to Gallagher,” said Michael Rea, CEO of the UK & Ireland Retail division. “This thriving business has a portfolio of specialisms that are complementary to our existing business, and provides us with additional scale in niche areas.
“Lifesure has been established for over 50 years and has a very positive reputation in the specialist holiday and leisure insurance market enjoying high levels of client retention.”
Reid added: “We believe we have found the ideal partner in Gallagher to take both Lifesure and Barnes Commercial forward. Gallagher’s focus on employing and developing its employees to provide great client service fits well with our ethos, and the team will benefit from being part of a leading global insurance organisation and the many opportunities this brings. This partnership will provide a springboard for further success.
Earlier this week, Gallagher named Sam Cheshire as head of cyber for the UK & Ireland retail division.
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