Arthur J. Gallagher & Co.'s Unit Artex Buys UK-based ICSR; Terms Not Disclosed

(RTTNews) - Arthur J. Gallagher & Co. (AJG), an insurance brokerage, risk management and consulting services firm, announced Monday that its captive and alternative risk transfer solutions subsidiary, Artex, has acquired London-based Implement Compliance Solutions & Resources Limited or ICSR. The financial terms of the acquisition were not disclosed.

ICSR provides consulting and support services on compliance, governance, risk and operations to insurance firms primarily in the U.K. Following the deal, Kenneth Underhill and his team will remain in their current location under the direction of Paul Eaton, head of Artex EMEA.

J. Patrick Gallagher, Jr., Chairman and CEO, said, "ICSR represents an excellent strategic fit for Artex and will strengthen our capabilities in serving clients undergoing regulatory and transformational change."