24 May '11, 12pm

AJG acquires ITI solutions

SINGAPORE: The world's fourth largest insurance broker Arthur J. Gallagher (AJG) has acquired local insurance broking house ITI solutions. The acquisition is its first this year outside of the US and UK. AJG is on a buying spree, and this is believed to be its eighth acquisition this year. Earlier this month, AJG acquired Heath Lampert -- a 1,300-strong insurance company in the UK -- for 97 million pounds. ITI will be renamed Gallagher Singapore. The company will be staffed with an initial team of 10 and headed by Freddie Lim, previously the CEO of ITI. Under an agreement between the two parties, the terms of the acquisition will not be disclosed. Gallagher International CEO David Ross said: "Gallagher's a company that is trying to expand globally and it is trying to put a footprint into some of the key emerging market places. "Singapore, for us, is the hub for the Asian m...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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sg.news.yahoo.com 24 May '11, 3pm

ITASCA, Ill. (AP) — Arthur J. Gallagher & Co. acquired ITI Solutions Pte., based in Singapore, extending a buying spree ai...