Gallagher expands its ownership in Middle East joint venture ACE Gallagher

Gallagher, a global insurance, risk consulting, and brokerage firm, has increased its stake in its five-year-old Middle East and Africa joint venture.

Launched in 2021 by MIG Holding and Gallagher, ACE Gallagher supports businesses with risk management and insurance solutions. The company employs more than 300 professionals and has expertise across aviation, real estate, construction, oil and gas, financial lines, and property risks.

In an announcement, Gallagher has now confirmed it has increased its shareholding in the joint venture from 30% to 49%, with MIG Holding retaining its majority stake.

“This further investment in the Middle East and in our partnership with MIG Holding demonstrates our commitment to the region, where we see significant growth opportunities for Gallagher,” said Simon Matson, Executive Vice President at Gallagher.

Headquartered in the US, Gallagher operates in more than 130 countries worldwide. Its fully owned Middle East team focuses on insurance and risk management services for clients across sectors including aerospace, construction, energy, power and renewables, financial services, and marine. The team operates from offices in Saudi Arabia, Bahrain, the UAE, Oman, Kuwait, and Lebanon.

Matson added: “This increase in our shareholding will see us work more closely with the team at ACE Gallagher, and together with our wider operations we can deliver comprehensive insurance expertise and advice to organisations across the region.”

Nagib Bahous, President of MIG Holding and Chairman of ACE Gallagher, said: “Gallagher’s decision to increase its investment is a strong endorsement of the business we have built and of the opportunities we see together across the Middle East and Africa.”

“Over the past four years, our partnership has combined deep regional knowledge with world-class global expertise, creating a platform that delivers strong value to clients. This agreement further strengthens our relationship and positions ACE Gallagher to accelerate its growth, expand its capabilities, and provide clients with greater access to specialist expertise, innovative risk solutions, and international markets.”