Arthur J. Gallagher Acquires UK-based Bay Risk Services For Undisclosed Terms
(RTTNews) - Insurance brokerage Arthur J. Gallagher & Co. (AJG) announced Monday that its reinsurance division Gallagher Re has acquired the business and assets of UK-based Bay Risk Services Ltd., a member of the Optio Group. Terms of the transaction were not disclosed.
Founded in 2016 as a London-based, independent Lloyd's broker, Bay Risk specializes in structuring and placing contracts of delegated underwriting authority.
The business will become part of the global programs practice of Gallagher Re and the team will continue to be led by Andrew Smallshaw and Robin Barker-Hahlo.
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