The purchase ’will enhance our UK retail capabilities in the niche personal lines space,’ says chief executive 

Broker giant Gallagher has bought UK-based personal lines broker Lifesure Group for an undisclosed sum, it announced yesterday (5 September 2023). 

As part of the transaction, Lifesure group’s managing director Paul Reid and his team will become part of Gallagher’s UK and Ireland retail division.

Gallagher, which already has a significant customer base in leisure lines, said this deal would further strengthen its offering in the specialist market.

As part of the transaction Gallagher will also acquire Barnes Commercial, an affiliated insurance broker of Lifesure Group, which serves SMEs.

Michael Rea, Gallagher chief executive for the UK and Ireland retail division, said: “This thriving business has a portfolio of specialisms that are complementary to our existing business and provides us with additional scale in niche areas.

“Lifesure has been established for over 50 years and has a very positive reputation in the specialist holiday and leisure insurance market, enjoying high levels of client retention.

“I am very pleased to welcome the Lifesure team and its clients to Gallagher.”

Springboard for further success

Led by managing director Paul Reid, Lifesure Group provides personal lines insurance broking services to the holiday and leisure sector, including park homes, motorhomes, caravans and leisure home insurance.

The broker was established in 1971 and has grown to now employ around 50 people.

Reid said: “We believe we have found the ideal partner in Gallagher to take both Lifesure and Barnes Commercial forward. Gallagher’s focus on employing and developing its employees to provide great client service fits well with our ethos and the team will benefit from being part of a leading global insurance organisation and the many opportunities this brings.

“This partnership will provide a springboard for further success.”

Meanwhile, Patrick Gallagher, president and chief executive at Gallagher, said: “Lifesure has an excellent reputation for client relationships and will enhance our UK retail capabilities in the niche personal lines space.

“I am delighted to welcome Reid and his colleagues to Gallagher.”