March 06, 2023 — 06:07 am EST
(RTTNews) – Insurance brokerage Arthur J. Gallagher & Co. (AJG) announced Monday that its reinsurance division Gallagher Re has acquired the business and assets of UK-based Bay Risk Services Ltd., a member of the Optio Group. Terms of the transaction were not disclosed.
Founded in 2016 as a London-based, independent Lloyd’s broker, Bay Risk specializes in structuring and placing contracts of delegated underwriting authority.
The business will become part of the global programs practice of Gallagher Re and the team will continue to be led by Andrew Smallshaw and Robin Barker-Hahlo.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT’s Financial Newswire is relied upon by some of the world’s largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
Source : Nasdaq