Gallagher acquires Reck & Co GmbH

Arthur J. Gallagher & Co. has expanded its footprint in the marine insurance sector through the acquisition of Germany-based Reck & Co GmbH. The subsidiary Gallagher Bassett, specializing in claims and risk management solutions, will oversee the integration. This move signifies Gallagher's strategic interest in bolstering its capabilities within the European market.

Reck & Co, headquartered in Bremen, offers expertise in global transport and marine claims services, including surveying, claim handling, recovery, and loss prevention. The current leadership team, comprised of Franz Kasten and Marc Friedrich, will remain at the helm, operating under the direction of Manan Sagar, who oversees Gallagher Bassett’s operations across Europe, the Middle East, and Asia. Financial terms of the acquisition have not been disclosed.

J. Patrick Gallagher, Jr., Chairman and CEO, commented on the acquisition, underscoring Reck & Co.'s established reputation in the marine insurance domain and its complementary fit within Gallagher Bassett’s portfolio. The integration is expected to enhance Gallagher Bassett’s service offering and its competitive positioning in the region.

Arthur J. Gallagher & Co. has been experiencing significant growth, as evidenced by its recent financial performance. In the fourth quarter of 2025, the company reported $3.6 billion in revenue before reimbursements, reflecting a substantial increase from $2.7 billion in the same period the previous year. The brokerage and risk management segments accounted for a combined revenue growth of over 30%, including a 5% rise in organic growth.

As Gallagher continues to expand its international presence, the acquisition of Reck & Co signals a strategic consolidation in the highly competitive marine insurance sector. This move aligns Gallagher's global expansion strategy with its goal of enhancing claims management capabilities across key markets. The transaction awaits no significant regulatory approvals and is expected to proceed smoothly, given its alignment with Gallagher's existing operational framework in Europe.