Arthur J. Gallagher (UK) Limited acquires Oxygen Insurance Managers.

Arthur J. Gallagher (UK) Limited today announced the acquisition of Oxygen Insurance Managers Ltd (OIM), from Oxygen Holdings Plc (Oxygen), a London market insurance intermediary, for an undisclosed sum.

Oxygen Insurance Managers, which represents a number of major insurance companies and Lloyd’s syndicates for various specialist classes of business, will now trade as OIM Underwriting Limited (OIM), an associated company of Arthur J. Gallagher (UK). Sian Fisher will be Managing Director of OIM and will remain on the Board of Oxygen Holdings Plc as a non-executive director.  OIM will maintain a strong trading relationship with Oxygen’s broking subsidiary, Oxygen Insurance Brokers, Ltd, and continue to operate out of their current Fenchurch Street location as OIM Underwriting Limited.

David Ross, CEO of Arthur J. Gallagher (UK), commented: “This strategic acquisition illustrates our continued approach to measured growth.  Having traded successfully with OIM for a number of years we believe their professionalism and entrepreneurial spirit is a perfect fit for our organisation.  Our companies share similar culture and values, particularly with regards to client service.”   Nigel Barton, CEO, Oxygen Holdings Plc, said:  “We have been approached by a number of parties in recent months interested in acquiring the agency operation – a demonstration of the fact that this type of business model has gained real traction.   After careful review and assessment, we decided that AJG UK presented an opportunity that worked well for all stakeholders – shareholders, staff, clients & carriers.  AJG UK provides a larger, international platform from which OIM will be better placed to fulfill its potential.”
Sian Fisher, Managing Director of OIM Underwriting Limited, added: “Oxygen Insurance Managers has made considerable progress since its creation in 2004 and achieved great results from a standing start. This arrangement enables us to build upon our historical trading relationship with AJG UK, and also to establish collaboration between two entrepreneurial businesses which will drive OIM forward.”

For further information, please contact:

Ross Gow, Cubitt Consulting
+44 (0)7778 755 251
ross.gow@cubitt.com

Naomi Wynburne, Cubitt Consulting
+44 (0)20 7367 5114
naomi.wynburne@cubitt.com

Sangita Ladwa, Oxygen Insurance
+44 (0)20 3178 8239
Sangita.Ladwa@oxygeninsurance.com