Redington provides comprehensive investment, research, and technology services to UK clients. Credit: Retamosa / Shutterstock.

US insurance brokerage Arthur J Gallagher & Co (Gallagher) has purchased Redington, an investment consulting company based in London, UK.

The deal consideration was not disclosed.

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Redington offers comprehensive investment, research, and technology services to a diverse clientele, including pension funds, wealth managers, and institutional investors in the UK.

The company’s CEO Sylvia Pozezanac and her team will continue to operate from their existing location, now under the supervision of Gallagher UK employee benefits and HR consulting operations head David Piltz.

This acquisition strengthens Gallagher’s capabilities in the UK consulting sector.

Earlier this year, Gallagher acquired Implement Compliance Solutions & Resources (ICSR), through the former’s subsidiary Artex.

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ICSR primarily serves insurance businesses in the UK, offering consulting and support services on compliance, governance, risk and operations.

Commenting on the latest deal, Gallagher chairman and CEO Patrick Gallagher, Jr said: “As a leader in the investment consulting space, Redington brings exceptional talent and represents a fantastic cultural fit.

“Their deep capabilities in modelling and investment market research will enhance our existing consulting services and help our clients achieve superior financial security outcomes.

“I am excited to welcome Sylvia and her associates to our growing Gallagher family of professionals.”

With its headquarters in Rolling Meadows, Illinois, Gallagher extends its services to around 130 countries.

Last month, the company launched a speciality insurance business in Bermuda, offering customised insurance solutions for regional clients. Jasmine DeSilva leads the new business as managing director.