Insurer Arthur J. Gallagher Nabs Swiss Broker Verbag
Law360, London (May 13, 2019, 6:01 PM BST) -- International insurance company Arthur J. Gallagher & Co. announced the purchase of niche Swiss broker Verbag Versicherungsberatungs AG on Monday, continuing the U.S.-based insurance broker's global expansion into Europe.
The terms of the deal for Verbag were not announced. The Swiss insurance broker, which is based south of Zurich, generates approximately $2 million in revenue annually, according to a press release.
Verbag offers commercial lines of insurance and employee benefits schemes and covers accident and health policies, Arthur J. Gallagher said. It also offers personal insurance to high-net-worth people.
"With Gallagher having invested in creating a specialist insurance broking platform in continental Europe, offering strengths...
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