US insurance brokerage Arthur J. Gallagher has purchased the remaining shares of Philpacific Insurance Brokers & Managers, operating as Philinsure.
Financial terms of the deal remain undisclosed.
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This follows an initial minority investment made by Gallagher in 2016.
Set up in 2000, Philinsure operates as a commercial insurance and reinsurance broker.
The company serves a diverse clientele from its headquarters in Cebu City in the Philippines, with additional offices in Manila and Davao City.
The Philinsure team, led by Gordon Joseph, will continue to operate from its current locations.
The team will work under Sarah Lyons, head of retail property/casualty brokerage operations for Gallagher Australia and Asia.
Gallagher chairman and CEO J. Patrick Gallagher Jr said: “With a strong record of growth and a culture like our own, Philinsure provides a fantastic opportunity to expand our retail brokerage capabilities in Asia. I am very pleased to welcome Dondi and his associates to our growing, global family of Gallagher professionals.”
Earlier this month, Gallagher signed a deal to purchase Woodruff Sawyer for $1.2bn.
Woodruff Sawyer, based in San Francisco, provides commercial property and casualty products, employee benefits solutions and risk management services, primarily to middle and large-market clients.
This deal is expected to close in the second quarter of 2025, pending regulatory approval.
Furthermore, in December 2024, Gallagher agreed to acquire AssuredPartners for a total of $13.45bn.
However, the company has received a request for additional information as part of the Hart-Scott-Rodino filing related to this proposed acquisition.
Gallagher, a global insurance brokerage, risk management and consulting services company based in Rolling Meadows, Illinois, has a presence in approximately 130 countries.
