Arthur J. Gallagher Acquires Full Ownership of Philinsure in the Philippines

Arthur J. Gallagher Acquires Full Ownership of Philinsure

In a strategic move to enhance its retail brokerage operations in Asia, Arthur J. Gallagher & Co. has announced the acquisition of the remaining shares of Philpacific Insurance Brokers & Managers, Inc., commonly known as Philinsure. This acquisition follows Gallagher's prior minority investment in the firm, further solidifying its position in the Asian insurance market. The terms of the deal have not been disclosed, but the implications for both companies are expected to be significant.

Philinsure is recognized as a leading commercial insurance and reinsurance broker in the Philippines, headquartered in Cebu City with additional offices in Greater Manila and Davao City. The company has a strong reputation for serving clients across the archipelago, and its established presence is likely to complement Gallagher’s existing operations seamlessly. Gordon “Dondi” Joseph, who leads Philinsure, and his team will continue to manage their operations under the leadership of Sarah Lyons, who oversees Gallagher's retail property and casualty brokerage operations in both Australia and Asia.

In comments about the acquisition, J. Patrick Gallagher, Jr., the Chairman and CEO of Gallagher, expressed enthusiasm about welcoming Dondi and his associates to the Gallagher family. He highlighted Philinsure’s impressive growth trajectory and cultural alignment with Gallagher as key factors that make this acquisition a promising opportunity. “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,” he stated.

This acquisition is expected to enhance Gallagher’s operational footprint in the Asia-Pacific region significantly, leveraging Philinsure’s established relationships and expertise. The acquisition aligns with Gallagher's strategy of expanding its service offerings to clients across the globe, as the company aims to tap into the growing demand for insurance and risk management solutions in emerging markets.

Gallagher, which is listed on the New York Stock Exchange under the symbol AJG, boasts a global presence operating in roughly 130 countries. The company offers a comprehensive array of services, encompassing insurance brokerage, risk management, and consulting. With thousands of employees and a network of correspondent brokers and consultants, Gallagher is well-positioned to support its clients on an international scale.

As Gallagher integrates Philinsure into its operations, the focus will likely remain on maintaining high standards of service and expanding the breadth of offerings available to clients across the Philippines and beyond. Both companies are poised to benefit from shared knowledge and resources, ultimately leading to enhanced client experiences and business growth.

This acquisition sets the stage for further developments in the competitive landscape of Asian insurance brokerage, as established players continue to adapt and expand in response to a dynamic market. As the integration progresses, industry observers will be watching closely to see how Gallagher leverages Philinsure’s local expertise to further its strategic objectives in the region.