Gallagher acquires the assets of UK broker Hayward Aviation in the deal as it continues to build its aviation book
Gallagher has bought up JLT’s aerospace division ahead of the latter’s sale to Marsh & McLennan Companies later this year.
The aerospace division includes operations in several countries around the world, including the UK, and will see 50 staff moved from JLT to Gallagher as part of the deal.
Gallagher will also acquire the assets of UK aviation broker Hayward Aviation, which specialises in high net worth business and smaller airlines.
“The addition of JLT’s global aerospace broking operations will firmly position Gallagher as a leading broker in the extremely attractive and dynamic aviation and aerospace sector,” said J. Patrick Gallagher, Jr., Chairman, president and chief executive. “The business portfolio is a highly complementary geographic fit with Gallagher’s existing footprint and will provide significant growth opportunities for our international businesses. We look forward to welcoming the team to Gallagher later this spring.”
Gallagher also added independent aviation insurance and reinsurance broker Boston Marks to its portfolio in December.
The latest acquisition comes just weeks after the consolidator announced it was buying 100% of specialist UK insurance broker Stackhouse Poland Group Limited for £300m.
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