Specialist consultancy Arthur J Gallagher has acquired insurance broking and wealth management specialist The Oval Group for approximately £199m.
According to an announcement from the company, Oval Healthcare and Oval Financial Services will be integrated into AJG’s UK employee benefits business.
The newly-combined AJG Employee Benefits operation will have fourteen offices and more than 230 employees across the UK, with over 160 people joining and the addition of eight new branch locations including Nottingham, Glasgow, Leeds, Bristol and Lytham St Anne’s.
AJG is the international name for the US-based Arther J Gallagher & Company.
Tim Johnson, chief executive officer of AJG, said: “This acquisition is a real game-changer for us; by bringing the healthcare, corporate benefits and wealth management businesses into Arthur J Gallagher Employee Benefits we simultaneously widen our portfolio, extend our geographic reach and significantly increase our scale.”
