AJG - Arthur J. Gallagher acquires Fender Marine

2023-07-06 05:27:20 ET

• Insurance broker Arthur J. Gallagher ( NYSE: AJG ) said on Thursday that its UK-based specialist underwriting subsidiary Pen Underwriting has acquired Norwegian managing general agent, Fender Marine AS, for an undisclosed sum.
• Fender, with offices in Bergen and Oslo, focuses on offering marine hull and protection & indemnity coverages for smaller fleets and specialized working vessels, as well as insurance for yachts and recreational vehicles, cargo, and subsea equipment.
• With the move, Fender will become part of Pen Underwriting, and Ola Skauge will continue to lead the team alongside founders Tore Hoisaether and Christian Lien.

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