Arthur J. Gallagher & Co has announced the acquisition of RIBV Holdings, LLC, and its subsidiaries, collectively known as Risk International.
The Ohio-based company, which provides outsourced risk management and employee benefits advisory services, serves private equity and corporate clients across the US. Terms of the transaction were not disclosed.
Risk International’s leadership team, including Todd Miller and Todd Lawrence (pictured above), will remain in their current roles and location, reporting to Jennifer Gallagher, head of Artex's North American operations. Artex is Gallagher's alternative risk and capital solutions subsidiary.
J. Patrick Gallagher, Jr., chairman and CEO of Arthur J. Gallagher & Co., said that Risk International's advisory services and client relationships align well with Artex’s strategic goals, presenting growth opportunities.
"I am excited to welcome the Risk International team to our growing Gallagher family of professionals,” he said.
In July, Gallagher also announced the acquisition of Cleary Benefits Group Inc., a health and benefits consulting firm based in Danbury, Conn. Similar to the Risk International deal, terms of the transaction were not disclosed.
Cleary Benefits Group provides consulting services to mid-size and large commercial clients. Brian Cleary, Heather Katz, and their team will remain in their current positions, reporting to Scott Sherman, head of Gallagher’s Northeast region employee benefits consulting and brokerage operations.
Outside of its acquisitions, the company also recently expanded its mining and heavy industry efforts with the addition of Bruce Dettling as global head for the sector, a newly established role.
Dettling will officially join Gallagher in November and will report to Malcolm Payton, CEO of property and casualty insurance solutions and head of global fac at Gallagher Specialty.
Gallagher highlighted that its mining and heavy industry sector specialists provide support to companies of all sizes with their operations, projects, and investments worldwide.
The mining sector faces a variety of risks, including natural catastrophes, machinery breakdowns, environmental and transportation hazards, and financial risks. Gallagher's client base spans 25 different commodities, and the team offers extensive industry-specific expertise.
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