Gallagher has announced (5 September 2023) the acquisition of Lifesure Group Limited (Lifesure). Terms of the transaction were not disclosed.
Lifesure was established in 1971 and provides insurance broking services in the holiday and leisure industry. Products include park home, motorhome, holiday caravan, leisure home, car and home insurance. It employs a team of 50 and is led by Managing Director, Paul Reid.
Gallagher already has a significant customer base in the leisure industry and Lifesure and the team will further strengthen its offering in this specialist market.
As part of the transaction, Gallagher will also acquire Barnes Commercial which is an insurance broker with a client base of small-to-medium businesses. The firm specialises in industries including healthcare and medical, construction, manufacturing, accountancy and veterinary and employs a small team of brokers, operating from the same office as Lifesure in St Neots, Cambridgeshire. The businesses will become part of Gallagher’s UK & Ireland Retail division.
Michael Rea, CEO of Gallagher’s UK & Ireland Retail division said: “I am very pleased to welcome the Lifesure team and its clients to Gallagher. This thriving business has a portfolio of specialisms that are complementary to our existing business, and provides us with additional scale in niche areas. Lifesure has been established for over 50 years and has a very positive reputation in the specialist holiday and leisure insurance market enjoying high levels of client retention.”
Paul added: “We believe we have found the ideal partner in Gallagher to take both Lifesure and Barnes Commercial forward. Gallagher’s focus on employing and developing its employees to provide great client service fits well with our ethos and the team will benefit from being part of a leading global insurance organisation and the many opportunities this brings. This partnership will provide a springboard for further success.”