Gallagher raises its stake in ACE Gallagher

Insurance broker Gallagher has increased its stake in ACE Gallagher, its joint venture with MIG Holding.

Having initially acquired a 30% interest in 2021, Gallagher now holds a 49% stake in the business, while the remaining 51% continues to be owned by MIG Holding, a Middle East-based insurance investment group.

The financial terms of the transaction were not disclosed.

Headquartered in Bahrain, ACE Gallagher has a regional presence across Saudi Arabia, the United Arab Emirates, Oman, Kuwait, Lebanon, and Greece.