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Insurance broker makes investment in Brazil

Date added: 17th February, 2010 at 09:12
(view all articles from February, 2010)

Categories: Economy

One of the largest insurance brokers in the world has made an investment in Brazil.

Arthur J. Gallagher & Co has bought Securitas Re of Sao Paulo from Estater Gestao de Investimentos for an undisclosed amount of money and the company will now be renamed Gallagher Brazil.

J Patrick Gallagher Jr, chairman, president and chief executive officer of the company, said part of its international strategy was to establish a stronger presence in key global hubs, with making an investment in Brazil forming part of those plans.

He said: "Gallagher Brazil is a good example of how we can transform our existing correspondent broker relationships into solid operating partners."

Arthur J. Gallagher & Co is the latest financial company to make an investment in Brazil.

Last week, Chris O'Connell, chief executive officer at Irish advisory company Elkstone Capital, told the Irish Independent the firm was exploring its international options, with making an investment in Brazil a possibility.ADNFCR-1477-ID-19620077-ADNFCR

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