American insurance giant, J Gallagher & Co has acquired a majority stake in Nottingham’s Purple Bridge Group, the holding company of UK specialist property insurance provider Vasek Insurance Services.
The deal includes Vasek’s appointed representative Insure My Villa, and subsidiary brands including Unoccupied Direct.
Managing Director Richard Berridge, will continue to lead the company, operating from Nottingham.
Michael Rea, CEO of UK retail for Gallagher says: “As we continue to expand our business through acquisition alongside our focus on organic growth, Vasek is another fantastic addition. It’s a large scale, quality, property-led broker, offering specialist solutions that will be immediately accretive to Gallagher’s UK business,”
Rea adds: “Vasek’s complementary product range will further strengthen our established specialism in providing tailor-made solutions to property owners for harder-to-place risks, expanding our routes to market and ensuring we maximise customer choice. We look forward to working with Richard and his team to grow the business further.”
Patrick Gallagher, Jr., CEO of Arthur J Gallagher & Co, adds: “Vasek is a high-quality broker with strong growth potential, offering businesses and individuals a broad selection of tailor-made property solutions. I am delighted to welcome Richard and his associates to our growing global team.”