Arthur J. Gallagher & Co. acquires THB Chile

Reinsurance broker Arthur J. Gallagher & Co. acquired Santiago-based retail insurance broker THB Chile.

Terms of the deal were not disclosed. The retail insurance broker provides property and casualty, life and health insurance, and reinsurance services to clients throughout Chile.

The THB Chile team will be led by Lionel Soffia, Gallagher’s head of retail insurance and reinsurance for Chile and Latin America.

J. Patrick Gallagher, Jr., Chairman and Chief Executive Officer, commented on the acquisition: “THB Chile brings deep market expertise and complementary operational experience that represents a significant expansion of our retail and reinsurance brokerage operations in Chile.

“I am thrilled to welcome the THB Chile team to our growing Gallagher family of professionals.”

In July 2024, Arthur J. Gallagher & Co. also acquired California-based Cornerstone Commercial & Personal Insurance Services, Inc. (Cornerstone) in an undisclosed deal as part of its ongoing expansion strategy.

This builds on other recent acquisitions, including The John Galt Insurance Agency, an independent insurance agency providing a full range of property and casualty insurance services in Florida.