Arthur J Gallagher has signed a definitive agreement to acquire AssuredPartners for a gross consideration of approximately £10.5bn. The deal is scheduled to close in the first quarter of 2025 and is subject to regulatory approval. AssuredPartners employs 10,900 staff and has 400 offices located across the US, the UK and Ireland.

J Patrick Gallagher Jr, chairman and CEO of Arthur J Gallagher, said: “We have held in high regard the fast-growing AssuredPartners franchise since its founding in 2011. AssuredPartners' entrepreneurial spirit, broad US footprint and middle-market focus make them an ideal merger partner for Gallagher.

“By further leveraging our deep industry verticals, investments in data and analytics, access to specialty products, our common systems and standardised service model, together we can provide even more value to clients and further position Gallagher for future growth.”

Randy Larsen, CEO of AssuredPartners added: "This marks a significant milestone in AssuredPartners' journey, showcasing the outstanding business we've built and strong growth we've experienced in just over a decade.

“With Gallagher, we bring together not only unparalleled global resources and expert insights but also a team of exceptional employees whose expertise and dedication have been the driving force behind our success. I am excited for our future together."