Arthur J. Gallagher & Co. has acquired German specialty broker Köberich Financial Lines GmbH & Co. KG as it continues to expand in Europe.
Terms of the transaction were not disclosed.
Gallagher said the deal marks its first “on-the-ground” broking team in Germany, with Köberich bringing expertise in directors and officers insurance, cyber, warranties and indemnities, professional indemnity and crime insurance.
Harald Köberich, who founded the business in 2009, and his team will remain in their current roles and join Gallagher’s European operations under Alex Nagler. Mr. Nagler was appointed CEO of Gallagher in Europe in September to lead its expansion in the region.
The German deal adds to Gallagher’s existing European presence in Sweden, Norway, Switzerland, Liechtenstein and Turkey.
Mr. Köberich’s team is based in Cologne, where its customer base ranges from energy and mining companies to construction, engineering and manufacturing.
