Arthur J. Gallagher acquires Singapore broker ITI Solutions

Gallagher Singapore promises clients access to its global resources and relationship-driven culture which they say can add significant value to companies based in Singapore.

Freddie Lim, previous CEO of ITI will head the new office with a team of 10 professionals.

Under an agreement between the two parties, the terms of the acquisition will not be disclosed. The acquisition has received regulatory approval from the Monetary Authority of Singapore.

As a full-service global insurance broker, Arthur J. Gallagher International will offer Singaporean companies access to an international platform and execution capabilities in sectors including marine cargo, political risk and trade credit insurance. In addition we have been granted a separate reinsurance licence to place business into the regional Asian reinsurance markets.

John Hastings-Bass, Chairman of International Development, Arthur J. Gallagher (UK) said: “Establishing our representative office in Singapore is the next step in our expansion and underscores the commitment to serving our international client base and their investors worldwide. Singapore is a vital hub of activity for us and we are tremendously pleased to have an office which will allow us to be closer to our Asian clients.”

The office opening ceremony which took place today (24 May, 2011) was attended by David Ross, CEO of Arthur J. Gallagher (UK), ]John Hastings-Bass Chairman of International Development, Kit Brownlees, Managing Director of Political , Project & Credit Risk and Freddie Lim, CEO of Gallagher Singapore.