Zurich-based Hesse & Partner AG joins forces with global insurance broker and risk management services firm Gallagher
Global insurance broker, risk management services and consulting firm Gallagher has expanded its speciality broking capabilities and broadened its footprint in continental Europe by acquiring a 65% stake in specialist Swiss broker Hesse & Partner AG and Hesse Consulting GmbH (“Hesse”). Terms of the transaction were not disclosed.
Based in Zurich and founded in 1997, Swiss commercial insurance broker Hesse specialises in developing bespoke risk and insurance solutions for industrial, manufacturing and construction clients, with a particular specialism in the waste-to-energy industry.
Having recognised the need to expand its strategic position to meet the ever-increasing challenges of market globalisation, Hesse found in Gallagher an international partner with a similar philosophy, shared values and complementary capabilities. Joining forces with Gallagher will ensure its clients gain much broader access to international markets and expertise, and a wider range of products and services, while continuing to receive the same high quality service.
Led by Chairman and founder Guido Hesse and CEO Tanja Jung, the Hesse team will remain unchanged and continue to operate from its Zurich location.
The deal also marks Gallagher’s entry into Switzerland. It follows strategic investments in Scandinavia and the creation of a Northern European specialty insurance broking platform, with particular strengths in marine, construction and trade credit.
Vyvienne Wade, CEO of Gallagher’s International division, said: “The Hesse team’s reputation for innovative client solutions, strong market relationships and sector expertise in the increasingly important waste-to-energy space provide a fantastic complement to the existing strengths of our specialty insurance broking businesses. The Hesse team shares our vision, client focus and entrepreneurial spirit, which makes them a strong cultural fit with Gallagher.”
She continued: “Expanding our footprint into the strong and stable economy of Switzerland, with its mature and globally significant insurance market, is an exciting development. This deal will enable Gallagher to work more closely with core Swiss industry sectors such as financial services, commodity trading and manufacturing, which will create considerable opportunities to serve new clients. We are delighted to welcome Guido, Tanja and their team into Gallagher.”
Guido Hesse said: “We are exceptionally proud of the business we have built over the last two decades and needed the right partner to help us take it to the next level of international expansion. Gallagher’s recognised ethical business standards and practices are a perfect fit with our company culture of openness, integrity and unparalleled customer service. In addition, Gallagher is known to be associated only with premier brokers in a particular geographic region or market niche. We are very pleased to be the latest example of this.”
Tanja Jung added: “Our decision to partner with Gallagher sets an example for international consolidation in the Swiss insurance broker market. Securing greater access to international markets and broader expertise not only benefits our customers, but will undoubtedly help us to attract the best talent in the industry to expand our range of products and services. We’re excited for the future as part of Gallagher.”
For more information, please contact:
Lynn Rouse, External Communications, Gallagher
+44 (0) 20 3425 3416
Hesse & Partner
Guido Hesse, Chairman, Hesse & Partner+41 44 921 60 10
Tanja Jung, CEO, Hesse & Partner +41 44 921 60 08
Charlotte Pauk, Media Relations +41 442779947 / +41 786546681
Notes to Editors:
Gallagher is the brand name of Arthur J. Gallagher & Co. (NYSE: AJG) — the global insurance broker, risk management services and consulting firm headquartered in Rolling Meadows, Illinois.
In Europe, Gallagher has an expanding specialty broking presence which originated in 1974 with the establishment of its Lloyd’s broker and London market operations. More recently, Gallagher has extended its specialty broking footprint into continental Europe, through acquisition, geographically building out its specialisms in marine, energy, credit and political risk, construction, life sciences, transportation and engineering alongside wider property and casualty expertise.
With global operations in 34 countries, Gallagher employs more than 27,000 people worldwide and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants. In 2018, Gallagher was recognized by the Ethisphere Institute as a World’s Most Ethical Company for the seventh year in a row and remains the only insurance broker to be recognized in this way.
For further information, please visit www.ajginternational.com
About Hesse & Partner AG
Swiss industrial and commercial insurance broker Hesse & Partner was founded 20 years ago and operates a branch office in Germany in addition to the headquarters in Zürich. Hesse & Partner specializes in small to mid-sized customers in the energy, infrastructure and manufacturing sectors in Switzerland and international markets.