Partnership receives required regional regulatory approvals
Dubai: MIG Holding, a leading regional insurance investment group and Gallagher, one of the world’s largest insurance broking and risk management firms, have finalised their strategic partnership in ACE after the agreement was formerly approved by regional regulators for Gallagher to acquire shares in the ACE Companies within the MENA region.
The ACE entities within the MENA region will now operate under the brand ACE Gallagher. The new agreement will see MIG be the majority shareholder with 70% interest, and
Gallagher assuming 30% interest in ACE.
The strategic partnership will facilitate knowledge sharing, best practice spanning regional and international markets, and foster innovation to help develop the region’s insurance industry by merging ACE’s in-market expertise with Gallagher’s global presence and industry-leading solutions.
Gallagher is one of world’s leading insurance broking, risk management and consultancy companies. With significant reach internationally, Gallagher employs more than 34,000 people. It has operations in 68 countries and offers client-service capabilities in more than 150 countries through a network of brokers and consultants.
About the ACE Gallagher Holding WLL:
A pioneer of the insurance industry in the GCC, ACE Gallagher combines unrivalled regional industry knowledge with global expertise to enhance reach within a competitive regional market. Backed by experienced professionals and expertise, ACE Gallagher provides tailor-made solutions and comprehensive claims and risk management services to clients locally through 16 offices in seven different countries.