Arthur J. Gallagher & Co. has acquired Ornella Underwriting through its specialist underwriting subsidiary Pen Underwriting. Financial terms of the transaction were not disclosed.
Ornella is a managing general agent based in Wexford, Ireland, providing commercial and personal insurance products through a network of independent broker partners.
The company’s areas of expertise include private car, van, home and motor fleet coverage.
Following the acquisition, Ornella will become part of Pen Underwriting.
Paul Whelan will continue leading the Ornella team from its current location and will operate under the direction of Michael Doyle, head of Pen Underwriting’s operations in Ireland.
The transaction expands Pen’s underwriting capabilities and product expertise in the Irish insurance market.
KEY QUOTES:
“Ornella is a highly regarded firm that will strengthen and expand our underwriting capabilities in Ireland, providing complementary expertise and further growth opportunities. I am pleased to welcome Paul and his associates to our growing, global team.”
J. Patrick Gallagher, Jr., Chairman and CEO of Arthur J. Gallagher & Co.
