Arthur J. Gallagher & Co Scoops Fender Marine AS, Terms Undisclosed
Portfolio Pulse from Benzinga Newsdesk
Arthur J. Gallagher & Co.'s UK-based subsidiary Pen Underwriting has acquired Norwegian managing general agent Fender Marine AS. Fender specializes in marine hull and protection & indemnity coverages for smaller fleets and specialist working vessels, as well as insurance for yachts and pleasure craft, cargo and subsea equipment. The terms of the transaction were not disclosed.
July 06, 2023 | 8:11 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Arthur J. Gallagher & Co. has expanded its insurance portfolio by acquiring Fender Marine AS, a specialist in marine insurance. The financial terms of the deal were not disclosed.
The acquisition of Fender Marine AS allows Arthur J. Gallagher & Co. to expand its insurance offerings, particularly in the marine sector. This could potentially increase the company's revenue and market share in the future, which is likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100