Arthur J. Gallagher International is delighted to announce that it has completed on the acquisition of the business and substantially all of the assets of Woodbrook Underwriting Agencies Ltd.
The move is part of Arthur J. Gallagher International’s strategic objective to grow its underwriting platform, to be known as AJG Underwriting Group. The acquired business will be incorporated into OIM Underwriting, which is Arthur J. Gallagher International’s current MGA platform.
David Ross, CEO of Arthur J. Gallagher International, said: “As part of our strategy to grow our underwriting competency, we have acquired the business of Woodbrook Underwriting Agencies Ltd, whose personnel will add additional depth to OIM’s existing capabilities and proven infrastructure. The enlarged business will benefit from multiple synergies – allowing the underwriting of larger and more complex risks and the opportunity to cross-sell products.”
Sian Fisher, Managing Director of the AJG Underwriting Group, said: “Chris Blackwell and his team have built a significant underwriting business and have developed a model which will enhance our current underwriting offering. The purchase will provide additional underwriting capacity for Woodbrook and access to support systems and services as well as links to Gallagher Bassett’s claims expertise. We are acquiring a fellow distributor, which allows us to benefit from pre-existing relationships both inside and outside the organisation.”
Chris Blackwell, who joins AJG Underwriting Group as part of this transaction, said: “I am very pleased to be part of what will be an exciting opportunity to grow the Woodbrook Underwriting vehicle within the AJG Underwriting Group. OIM is a perfect partner for Woodbrook and Sian Fisher and her team and the infrastructure and support that they offer will ensure that the products and opportunities we provide to our existing relationships will be greatly enhanced.”
Chris and his team will trade under the name of Woodbrook Underwriting from their existing offices in Essex and at Lloyd’s.