Gallagher Brazil buys dealer Interbrok
the brokerage Gallagher Brazil bought the Interbrok Insurance Group, in a transaction that will allow it to enter the segment of medium-sized companies and individuals. This is the second acquisition by the American company since it started operating in the area in Brazil a year ago. In June, it incorporated the DN2A boutique brokerage🇧🇷 The value of the business was not disclosed.
“With the deal with Interbrok, we went from being a startup in 2022 to becoming a medium to large company, with a significant volume in the market and complementary businesses”, said Luiz Eduardo Araripe, who presides over local operations at Gallagher RE and is country manager for Gallagher Brasil.
Gallagher is the third largest global corporate insurance, risk management and benefits consulting brokerage and arrived in Brazil in October last year to reinforce its presence in Latin America. The country was the last major market in which the company did not yet operate. Until then, the company had a local reinsurance operation.
While DN2A was a merger that allowed it to increase its presence in Rio de Janeiro, Interbrok, headquartered in São Paulo, has national operations. Only in the area of individuals there are about 7 thousand customers. With the deal, Gallagher will add to its portfolio lines aimed at individuals such as cars and fleets.
Araripe says that the initial plan was to offer, in the next three to five years, a transport insurance line, which was brought forward with the acquisition of Interbrok. According to the executive, the transaction guarantees more capillarity and scope to the specialized consultancy and personalized service promoted by the global company.
New acquisitions are not discarded, but they are not the main focus, says the executive. “In the short term, the plan is to consolidate the purchase, the new positioning in the market, invest in inorganic growth and create synergies to grow”, he says.
Globally, Gallagher announced yesterday the purchase of Buck, an English benefits provider, for US$ 660 million. The deal may open the way for new customers in Brazil. Globally, Buck has more than 150 clients and multinationals present locally could potentially hire Gallagher, says Araripe.