A.J. Gallagher Completes Takeover Of Bermuda Broker

Law360, London (November 28, 2019, 11:54 AM GMT) -- U.S. insurance broker Arthur J. Gallagher has completed a full takeover of a Bermuda-based reinsurance broker, buying the business three days before an arrangement negotiated six years ago was due to expire.

Illinois-based Gallagher, the fourth-largest broker in the world by revenue, said Wednesday it has swapped paperwork to increase the stake of its investment in

Capsicum Re to 100% from a previous 20% for an amount of money it did not disclose. Capsicum Re has operated as an appointed representative of Gallagher since it was set up in 2013, selling cyber, casualty and property reinsurance.

It was co-founded by Grahame Chilton, who...

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