Arthur J. Gallagher / Gallagher Re Acquires Bay Risk Services Limited
March 6, 2023
Arthur J. Gallagher & Co., through its reinsurance division Gallagher Re, has acquired the business and assets of UK-based Lloyd’s broker Bay Risk Services Limited, a member of the Optio Group. Bay Risk, founded in 2016 and specializing in structuring and placing delegated underwriting authority (binder) business for program managers, MGAs and Lloyd’s coverholders, will join Gallagher Re’s global programs practice; the existing Bay Risk leadership team will remain in place. Terms were not disclosed.
- Buyers
- Arthur J. Gallagher & Co., Gallagher Re
- Targets
- Bay Risk Services Limited
- Sellers
- Optio Group
- Industry
- Insurance
- Location
- United Kingdom
- Transaction Type
- Buyout
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