Arthur J. Gallagher & Co. has acquired Mike Henry Insurance Brokers Constrained (MHIB), headquartered in Auckland, New Zealand.
MHIB has annualized revenues of around $ 4.5 million and thirty staff operating from its offices in Auckland and Christchurch, in accordance to the announcement.
Terms of the transaction have been not disclosed.
MHIB is an insurance broker and danger management company for middle-market place business clients in New Zealand. The company also specializes in coverage for the transportation and freight, jewelery, travel, marine, hotel and hospitality industries as properly as the public sector.
Graham Henry and his associates will proceed to operate beneath the route of Andrew Godden, head of Gallagher’s Australasia brokerage business, in accordance to the firm.
This is Arthur J. Gallagher’s very first brokerage presence in New Zealand. The firm, headquartered in Itasca, Illinois, has operations in 25 countries.