Arthur J. Gallagher has agreed to purchase a minority stake in a Czech Republic-based insurance broker.
Gallagher will acquire the stake in Prague-headquartered Renomia a.s. Founded in 1993 by Jirina Nepalova and her sons, Jiri and Pavel, Renomia is the largest independent broker based in the Central and Eastern European (CEE) Region, with more than 1,500 colleagues serving clients under the brand through its franchise partner network. Renomia, which primarily serves commercial clients, has full-scale broking operations in seven countries – the Czech Republic, Slovakia, Romania, Hungary, Serbia, Bulgaria and Croatia – as well as an extensive franchise network in the rest of the CEE region, Gallagher said.
“Renomia is a very strong, family-run business that has been a valuable participant in Gallagher’s strategic broker partner network, Gallagher Global Alliance, for 15 years,” said J. Patrick Gallagher Jr., chairman, president and CEO of Gallagher. “Our companies share a similar culture and values, and we are thrilled to further solidify our partnership.”
“Our international expansion story continues to be one of investing in economies where we can see a strong opportunity for growth, complementary to our specialisms, and where we find a strong local partner who is well-aligned culturally and shares our ambition, client focus and ethics,” say Vyvienne Wade, CEO of Gallagher’s international property-casualty brokerage operations. “Renomia fits that definition perfectly.”