Australia (Commonwealth Union)_ As part of its continued expansion plan, brokerage giant Gallagher has purchased the Melbourne-based insurance brokerage, Smart Insurance Services. Smart, established by Steve Maxwell in 2009, serves a wide variety of clients in Melbourne and has a great growth record due to its focus on relationship building and client experience. It comprises MyMarketInsurance, an online service that provides coverage to market owners and stall holders.
Under the terms of the deal, Smart will continue to serve market stall holders in Australia while utilizing the Gallagher brand to provide access to a variety of services and specialties, including industry knowledge, claims advocacy, placement skills, access to worldwide markets, and more. Gallagher provides small companies with online quote and bind services, and the company anticipates that the purchase will help it enhance its online offering.
Sarah Lyons, chief executive at Gallagher Australia, expressed optimism over the acquisition. “Our merger activity is a great endorsement of what we have to offer, from our culture, ethics, and our people; to the way we work, our business capabilities, and our focus on clients. Brokerages which are committed to building trust with clients and investing in people make ideal merger partners for Gallagher,” she said. “I’m delighted to welcome Steve Maxwell and Boi Bolinao of Smart Insurance Services to Gallagher.”
Gallagher’s acquisition of Smart is its second merger transaction this month. On November 7, the global brokerage welcomed JLS Insurance Consulting of Melbourne as its newest member. Further, Jodi Sharman and her team are now members of Gallagher’s corporate business in Melbourne. Arthur J. Gallagher & Co. and its branches offer insurance brokerage, consultancy, and third-party claims settlement and administration services to organizations worldwide.
As of 2021, Gallagher is the leading property and casualty third-party claims administrator in the world and the fourth-largest insurance broker/risk manager based on revenue. Its industry knowledge and insurance and risk management solutions are extensive, spanning from automotive and healthcare to energy and transportation, and from management liability and property to cyber and the fine arts. Gallagher also provides other services, in addition to benefits and HR consulting, captives and alternative risk transfer, and reinsurance services.
