AJ Gallagher
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The pair will lead crisis management and financial lines, respectively. -
The executive said the combined entity could execute 100-110 tuck-in M&A deals a year.
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The deal represents a 14.3x Ebitda multiple and strengthens Gallagher’s mid-market position.
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If the deal is finalised, it will represent the largest in the acquirer’s history.
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The executive will also serve as an independent non-executive director of Gallagher in the UK.
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The Pen Underwriting MGA is expanding from its marine war specialism.
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The exits include several senior brokers who were previously with JLT and Hayward Aviation.
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Earlier this month this publication revealed that the brokerages were in advanced talks to secure a deal.
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Samer Ahmad was with Marsh for more than seven years.
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The broker said that pricing dynamics would require careful management, but adequacy remains
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Sources said the brokers are in the final stages and could seal a deal in the next couple of weeks.
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The pair will report to Imea CEO Julian Samengo-Turner.
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