MEADOWS, Ill., July 6, 2023
/PRNewswire/ -- Arthur J. Gallagher
& Co. today announced that its UK-based specialist underwriting
subsidiary Pen Underwriting has acquired Norwegian managing general
agent (MGA) Fender Marine AS ("Fender"). Terms of the transaction
were not disclosed.
Based in Bergen and
Oslo, Fender specializes in
providing marine hull and protection & indemnity ("P&I")
coverages for smaller fleets and specialist working vessels, as
well as insurance for yachts and pleasure craft, cargo and subsea
equipment. The business will become part of Pen Underwriting, and
Ola Skauge will continue to lead the
team alongside founders Tore Hoisaether and Christian Lien.
"Fender is a highly regarded firm with an excellent track record
of growth whose areas of marine expertise complement Pen's existing
capabilities and provide a platform for international expansion,"
said J. Patrick Gallagher, Jr.,
Chairman, President and CEO. "We are very pleased to welcome Ola,
Tore, Christian and their associates to our growing, global
Arthur J. Gallagher & Co.
(NYSE:AJG), a global insurance brokerage, risk management and
consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides
these services in approximately 130 countries around the world
through its owned operations and a network of correspondent brokers
Iardella, VP - Investor Relations
Media: Paul Day,
View original content to download
SOURCE Arthur J. Gallagher &