AJG - Arthur J. Gallagher acquires Tay River terms undisclosed
2023-04-03 05:21:15 ET
- Arthur J. Gallagher & Co ( NYSE: AJG ) announced that its specialist underwriting subsidiary Pen Underwriting has acquired U.K.-based Tay River and its specialist managing general agent (MGA) related companies.
- Post acquisition, business will become part of Pen Underwriting, and Paul Hartley will continue to lead the team.
- Transaction terms remain undisclosed.
- Tay specializes in providing coverages for marine liability, ports & terminals liability, marine war risks and kidnap & ransom through its independent broker clients; also expanded into maritime professional indemnity, freight and logistics insurance, as well as brown water hull.
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Arthur J. Gallagher acquires Tay River, terms undisclosed