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Arthur J Gallagher Nears $12 Billion Deal to Buy AssuredPartners

New York Photographer: Victor J. Blue/Bloomberg (Victor J. Blue/Bloomberg)

(Bloomberg) -- Arthur J. Gallagher & Co. is in advanced talks to acquire AssuredPartners in a deal valuing the insurance broker at about $12 billion, a person with knowledge of the matter said.

An agreement could be announced as soon as Monday, according to the person, who asked to not be identified discussing confidential information. 

Bloomberg News reported last year that AssuredPartners’ private equity owners, GTCR and Apax Partners, were exploring options including a full sale of the company.

While discussions with Arthur J. Gallagher are advanced, they could still be delayed of falter, the person said. News of the talks with Arthur J. Gallagher was first reported by The Insurer. 

Representatives for Arthur J. Gallagher, AssuredPartners, GTCR and Apax either declined to comment or didn’t immediately respond to requests for comment. 

Insurance brokers, which act as intermediaries between businesses and insurance providers, have seen their revenue soar as inflation ran up the price of high-dollar items such as homes and automobiles, translating into higher fees. 

An investor group led by GTCR in 2019 agreed to buy a majority stake in the company from Apax, which kept an interest in the company. That deal valued AssuredPartners at $5.1 billion, Bloomberg News reported at the time. 

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