Arthur J. Gallagher & Co., a global insurance brokerage, has announced the acquisition of the remaining shares of Philpacific Insurance Brokers & Managers, Inc., known as Philinsure. This follows a previous minority investment in the company. The financial terms of the transaction were not disclosed.
Philinsure operates as a commercial insurance and reinsurance broker in the Philippines, with offices in Cebu City, Manila, and Davao City. Gordon “Dondi” Joseph and his team will continue their roles under Sarah Lyons, who oversees retail property/casualty brokerage operations for Gallagher in Australia and Asia.
J. Patrick Gallagher, Jr., Chairman and CEO of Arthur J. Gallagher & Co., said, “With a strong record of growth and a culture like our own, Philinsure provides a fantastic opportunity to expand our retail brokerage capabilities in Asia.” He added that he is pleased to welcome Dondi Joseph and his associates to Gallagher’s global network.
Arthur J. Gallagher & Co., headquartered in Rolling Meadows, Illinois, offers insurance brokerage, risk management, and consulting services worldwide through its owned operations and network of brokers.
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