Partnership receives required regional regulatory approvals
MIG Holding, a leading regional insurance investment group and Gallagher, one of the world’s largest insurance broking and risk management firms, have finalized their strategic partnership in ACE after the agreement was formerly approved by regional regulators for Gallagher to acquire shares in the ACE Companies within the MENA region.
The ACE entities within the MENA region will now operate under the brand ACE Gallagher. The new agreement will see MIG be the majority shareholder with 70% interest, and
Gallagher assuming 30% interest in ACE.
The strategic partnership will facilitate knowledge sharing, best practice spanning regional and international markets, and foster innovation to help develop the region’s insurance industry by merging ACE’s in-market expertise with Gallagher’s global presence and industry-leading solutions.
Gallagher is one of world’s leading insurance broking, risk management and consultancy companies. With significant reach internationally, Gallagher employs more than 34,000 people. It has operations in 68 countries and offers client-service capabilities in more than 150 countries through a network of brokers and consultants.
ACE Re DIFC will trade as Gallagher going forward
16 March, 2022