According to reports, the strategic acquisition aims to solidify Gallagher’s position as a major player in the middle-market insurance segment.
The middle-market insurance segment caters to mid-sized businesses with annual revenues ranging from $10 million to $1 billion. AssuredPartners, founded in 2011, has emerged as a significant player in this segment, offering a wide range of insurance products and services.
Gallagher’s acquisition of AssuredPartners follows similar moves by industry peers Aon PLC and Marsh & McLennan Cos. Inc., who have also made substantial investments to expand their presence in the middle-market.
The deal is expected to close in the first quarter of 2025 and is projected to significantly boost Gallagher’s adjusted profit. To finance the acquisition, Gallagher plans to use a combination of cash, debt, and a recently announced $8.5 billion stock offering.
