Arthur J Gallagher operates in approximately 130 countries worldwide. Credit: Piotr Swat / Shutterstock.

Insurance brokerage and consulting services company Arthur J Gallagher has acquired retail insurance broker THB Chile, headquartered in Santiago, Chile. 

The deal consideration was not revealed.

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THB Chile specialises in offering property/casualty, life and health benefits, as well as reinsurance services across Chile.

The THB team will now operate under the leadership of Lionel Soffia, who leads Gallagher’s retail insurance and reinsurance brokerage business in Chile and Latin America. 

Commenting on the purchase, Gallagher CEO and chairman J Patrick Gallagher, Jr said: “THB Chile brings deep market expertise and a complementary book of business, representing a significant expansion of our retail and reinsurance brokerage operations in Chile. I am very pleased to welcome the THB Chile team to our growing Gallagher family of professionals.”

Based in Rolling Meadows, Illinois, Gallagher operates in nearly 130 countries worldwide.

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Earlier this month, Gallagher acquired Peabody Insurance Agency, a Michigan-based retail insurance agency.

Peabody Insurance caters to commercial and personal lines clients and focuses on the manufacturing, construction, and multi-family real estate sectors.

Additionally, Gallagher acquired Oklahoma City-based Scout Benefits Group, which is known for its employee benefits consulting, particularly in health plan strategies.

The Scout Benefits team, including Tiffany Davis and Todd Davis, will remain at their current office. It will reporting to Leah Vetter, head of Gallagher Central region employee benefits consulting operations.