Arthur J. Gallagher to acquire 30% stake in MENA insurance broker ACE

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Arthur J. Gallagher & Co. has agreed to acquire a 30% stake in ACE, a Middle East & North Africa (MENA) specialist insurance broker, from MIG Holding Ltd (MIG Group), for an undisclosed price.

MIG Group will retain a stake of 70% in ACE.

Since 1952, ACE has been operating as an insurance, reinsurance, and employee benefits broker. The company has operations across seven countries.

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It particularly has expertise in aviation, construction, real estate, financial lines, oil and gas, and property risks.

Arthur J. Gallagher to acquire 30% stake in MENA insurance broker ACE from MIG Group

Arthur J. Gallagher to acquire 30% stake in MENA insurance broker ACE from MIG Group. Photo courtesy of Gerd Altmann from Pixabay.

J. Patrick Gallagher, Jr. – Chairman, President, and CEO of Arthur J. Gallagher said: “Our strategic investment in ACE enhances Gallagher’s international presence in the Middle East and expands our insurance and reinsurance capabilities across the region.

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“We look forward to working with Nagib and his associates, and are excited about the many growth opportunities this partnership offers.”

The deal will be subject to the required regulatory approvals.

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