US-based insurance brokerage Arthur J Gallagher & Co has continued its growth trajectory with the purchases of Fender Marine and The Andersen Group.
The company executed the Fender Marine deal through its UK-based specialist underwriting unit, Pen Underwriting.
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Norway-based Fender Marine is a managing general agent (MGA) that focuses on marine hull and protection & indemnity (P&I) cover for smaller fleets and specialist working vessels.
It also offers cover for cargo and subsea equipment, as well as yachts and pleasure craft.
With a presence in Bergen and Oslo, Fender Marine will now join Pen Underwriting.
Its CEO Ola Skauge will continue to spearhead the business with founders Tore Hoisaether and Christian Lien.
Arthur J Gallagher chairman, president and CEO J Patrick Gallagher, Jr stated: “Fender is a highly regarded firm with an excellent track record of growth whose areas of marine expertise complement Pen’s existing capabilities and provide a platform for international expansion.
“We are very pleased to welcome Ola, Tore, Christian and their associates to our growing, global team.”
Retail insurance agency the Andersen Group caters to non-profit trade associations, engineering services firms, and government contractors in the Greater Washington, DC region.
Founder Frank Andersen and his team will now work under the supervision of Gallagher Mid-South retail property/casualty brokerage operations head Bumpy Triche.
The financial terms of both deals were not revealed.
Among other most recent deals of Arthur J Gallagher include its acquisitions of US-based commercial P&C agency Leavitt Insurance Services and Swiss fine arts insurance broker AccurART.
