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Oct 2021

Turkey: Gallagher takes majority share in Istanbul-based specialty broker

Source: Middle East Insurance Review | Sep 2021

Gallagher has acquired a majority stake in Brokers’ House, a specialty broker based in Istanbul. Details of the transaction were not disclosed.
 
This acquisition will be Gallagher’s first direct presence in Turkey and give the company a footprint in a growing strategic insurance hub between Asia and Europe. Brokers’ House will benefit by becoming part of a global business, helping scale up the firm significantly and the agreement will give clients access to a larger suite of insurance products and services. The business will rebrand to Gallagher in the coming months.
 
Brokers’ House is a commercial insurance and facultative reinsurance broker offering a broad range of commercial and specialty lines including property, financial lines, energy, engineering and marine cargo. The business has 25 employees and is headquartered in Istanbul.
 
Gallagher and Brokers’ House have an existing relationship as the firm has been one of Gallagher’s Global Network Partners since 2014. The current leadership team of Mr Gündüz Tezel and Mr Levent Özbilen will remain with the business. M 
 
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