US insurance giant Arthur J. Gallagher has completed a $350m (£268m) deal for specialist UK insurance broker Stackhouse Poland.
Gallagher – the main sponsor of Premiership Rugby – said the acquisition for the UK firm, which sells insurance to high net worth individuals, received full regulatory approval today.
As well as focusing on wealthy private clients, Stackhouse Poland also sells real estate, healthcare and commercial insurance.
Gallagher will add the company’s 23 offices and more than 500 employees in the UK to its global network.
“Stackhouse Poland is a fantastic business that strengthens our specialist businesses, expands our route to market and, importantly, extends our customer choice,” Michael Rea, chief executive of Gallagher’s UK retail division said.
“Culturally we are a great fit – with our shared values of ‘doing the right thing’ for our clients and colleagues – and today we are delighted to welcome more than 500 new colleagues into the Gallagher family,” he added.
Stackhouse Poland chief executive Tim Johnson said Gallagher was the “ideal ally” to take the business to the next level.