Gallagher buys WK Webster
London-headquartered firm is arguably the best-known name in marine claims handling
Acquisition will add expertise to Gallagher’s specialty capabilities, said chief executive
GALLAGHER Bassett, the claims handling subsidiary of major US broker Arthur J. Gallagher & Co, has acquired London-headquartered W K Webster & Co for undisclosed consideration.
WKW, as it known internally, was established in 1861 and is predominantly a third-party administrator or “TPA” as such firms are referred to in marine insurance jargon.
Essentially it provides marine and transit claims management services to insurers and self-insured corporations globally.
Arguably the best-known name in the niche, and in addition to its London office, the firm also has offices in Singapore, the United States and the Netherlands.
The WKW team, led by Anthony Smith, will join Gallagher Bassett under the direction of Manan Sagar, head of Gallagher Bassett’s Europe, Middle East and Asia operations.
“As a leader in marine and transit claims services, W K Webster brings long-standing market expertise and expands Gallagher Bassett’s specialty capabilities globally,” said Gallagher chief executive J Patrick Gallagher Jr.
Recent financial reports from Gallagher — best known among European marine insurers for its marine broking activities — have shown consistent growth, particularly in the brokerage and risk management segments.
