Gallagher Expands Real Estate Ambitions with Acquisition of Bircroft Insurance
Gallagher has unveiled plans to acquire Bircroft Insurance, a prominent commercial insurance broker based in London. This strategic acquisition aims to bolster Gallagher’s real estate initiatives, offering enhanced support to UK clients including property owners, investors, managing agents, resident managing companies, and property developers.
Bircroft has established a strong foothold in the real estate sector, providing both wholesale and retail services, while also catering to private clients seeking protection for their homes and valuables. Founded over 15 years ago as part of the Dawnay Day Group, Bircroft is currently managed by Ian Lee and Simon Bird, alongside a dedicated team of 10 professionals.
Following the acquisition, Lee, Bird, and their team will continue their roles as Bircroft integrates into Gallagher’s real estate practice within its UK & Ireland Retail division, led by Gallagher’s regional managing director, Jon Phillips. Phillips expressed his excitement about the acquisition, stating, “I am thrilled to welcome Bircroft to Gallagher, having known both Ian and Simon for many years. The team has a profound understanding of the challenges facing clients in the real estate sector. With one of the UK’s largest teams in real estate, the expertise offered by Ian, Simon, and their team is highly complementary to our existing services, and joining Gallagher provides them with a platform for expansion.”
Echoing this enthusiasm, Ian Lee from Bircroft highlighted the appeal of Gallagher, noting, “Gallagher’s reputation for exceptional client relationships played a significant role in attracting us. We are incredibly excited about this new chapter in our journey and look forward to becoming part of the Gallagher team.” Lee further emphasized the alignment of values, stating, “Joining Gallagher is fantastic news for our business, colleagues, and clients. Our businesses are well aligned and share strong capabilities in the real estate sector.”
In recent developments, Arthur J. Gallagher & Co. announced an agreement to acquire Woodruff Sawyer, a San Francisco-based insurance brokerage firm, for $1.2 billion (approximately £0.93 billion). This move is indicative of Gallagher’s ongoing drive to expand its footprint in the property sector. In addition, at the close of last year, AJG also announced the acquisition of AssuredPartners, an insurance broker specializing in the middle-market sector.
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