Arthur J. Gallagher & Co. expands in Asia with Philinsure buy

ROLLING MEADOWS, Ill. - Arthur J. Gallagher & Co., the global insurance brokerage and risk management services firm, has completed the acquisition of Philpacific Insurance Brokers & Managers, Inc., known as Philinsure, expanding its footprint in the Asian market. The company, which had previously held a minority stake in Philinsure, did not disclose the financial terms of the deal.

Philinsure, a commercial insurance and reinsurance broker, operates from its headquarters in Cebu City and has additional offices in Manila and Davao City, Philippines. Post-acquisition, the Philinsure team, led by Gordon "Dondi" Joseph, will continue to operate from their current locations. They will report to Sarah Lyons, head of Gallagher’s retail property/casualty brokerage operations in Australia and Asia. The acquisition adds to AJG’s impressive growth trajectory, with revenue increasing by 14.3% over the last twelve months.

J. Patrick Gallagher, Jr., Chairman and CEO of Arthur J. Gallagher & Co., expressed enthusiasm about the acquisition, citing Philinsure’s growth trajectory and cultural alignment with Gallagher. The move is part of the company’s strategy to enhance its retail brokerage capabilities in the Asian region.

Arthur J. Gallagher & Co., headquartered in Rolling Meadows, Illinois, has a global presence, offering its services in approximately 130 countries. The firm is listed on the New York Stock Exchange under the ticker NYSE:AJG.

The acquisition is based on a press release statement and is part of Gallagher’s ongoing efforts to expand its international service network. The addition of Philinsure aims to strengthen the company’s market position in Asia, providing a broader range of services to clients in the Philippines.

In other recent news, Arthur J. Gallagher & Co. announced its acquisition of San Francisco-based broker Woodruff Sawyer for $1.2 billion, with the deal expected to close in the second quarter of 2025. This acquisition aims to enhance Gallagher’s client offerings and expand its capabilities, integrating Woodruff Sawyer’s team into its U.S. operations. Financially, Woodruff Sawyer reported pro forma revenues of approximately $268 million for the trailing 12 months. In related developments, Keefe, Bruyette & Woods (KBW) raised its price target for Arthur J. Gallagher to $308, maintaining a Market Perform rating, following the acquisition announcement. KBW also adjusted its cash earnings per share estimates for 2025 and 2026, reflecting the anticipated impact of the acquisition. Additionally, Arthur J. Gallagher has expanded its global presence by acquiring New Zealand-based RMA General Limited, Minneapolis-based Dyste Williams, and Brazil’s Case Group, though the financial terms for these deals were not disclosed. These strategic acquisitions are part of Gallagher’s ongoing efforts to grow its international footprint and enhance its service offerings across various regions.

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