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Gallagher: Business
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/PRNewswire-FirstCall via COMTEX/ -- Arthur J. Gallagher & Co. announced that today it has signed definitive agreements to sell substantially all of Gallagher Re's U.S. and U.K. reinsurance brokerage business to Aon Corporation. Under the agreements, Gallagher will receive initial payments of approximately $30 million in cash and potentially an additional $15 million in cash based on revenues generated in the 12 months following the close of the transactions.
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CHICAGO, Feb. 22 /PRNewswire-FirstCall/ -- Aon Corporation (NYSE: AOC), the leading provider of global risk management services, today announced that it has signed definitive agreements to acquire substantially all of Gallagher Re's U.S. and U.K. reinsurance brokerage business. In addition, a team of industry professionals from Gallagher Re, based in the U.S. and U.K., will join Aon Re Global, the world's leading reinsurance intermediary.
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Steve Taylor joined Gallagher Re in November 2004 as Business Development Officer. In a career spanning over 30 years, Mr Taylor has worked with a multinational client base, specializing in non marine reinsurance and retrocession business. Mr Taylor commenced his reinsurance career in 1976 and worked at Guy Carpenter (formerly C T Bowring), Vera Cruz Seguradora, Aon (formerly J H Minet), and Benfield, where he spent 23 years prior to joining Gallagher Re.
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