Gallagher today announced it has acquired KROSE GmbH & Co KG (KROSE). Terms of the transaction were not disclosed.
Headquartered in Bremen, KROSE was established in 1920 and partners with large blue-chip clients across Germany. It provides commercial insurance and reinsurance solutions and specialises in the design and placement of complex programmes working collaboratively with in-house risk managers and insurance departments at large corporates.
KROSE employs a highly experienced team of 70 risk professionals across property, casualty, cyber, marine, D&O insurance plus specialist classes and alternative risk solutions. Dr. Oliver Cullmann, Leopold Muhle and Urs Gottwald continue to lead KROSE as Managing Directors in addition to Dr. Andreas Keller who will also become a Managing Director.
Gallagher already has teams operating from Germany with a number of its pan-European leadership team based in the country, a team of over 50 specialising in reinsurance operating primarily from Munich, and Cologne-based Köberich, which Gallagher acquired in early 2024.
The Köberich team specialises in D&O insurance, plus other financial lines products and this latest acquisition will see the teams work closely together to expand Gallagher's client offering in Germany and further in continental Europe.
This latest acquisition builds on Gallagher existing Europe operations, which now cover over 20 countries.
Simon Matson, Executive Vice President, Gallagher Global Brokerage, said: "Our strategic investment in KROSE enhances Gallagher's presence in Germany and expands our insurance and reinsurance capabilities in Europe. We will be focusing on bringing the expertise we now have across all the different Germany based teams together to explore further solutions for firms operating in the country, providing us with an enviable springboard for further client growth."
Focusing in on what this means for Gallagher's European operations, Alex Nagler, CEO of Gallagher in Europe, said: "KROSE is a perfect match for us and this acquisition presents a great opportunity for Gallagher to build our presence in Germany and enable both the team at KROSE and Köberich to expand their current client services. Many KROSE clients are large multinationals with complex risks they need to manage, and being able to access Gallagher's global expertise will further enrich its client offering.
"KROSE has been around for over 100 years and has deservedly got a very positive reputation for its exceptional service to clients, an approach we value highly. I am looking forward to working with the management team to further expand the business and how we support firms headquartered in Germany."
Dr Oliver Cullmann, Managing Partner at KROSE, commented: "This is an exciting milestone for our team and becoming part of a global broker like Gallagher will enable us to take the business to its next stage of evolution, adding broader capabilities, deeper industry expertise, and greater access to international markets."
Leopold Muhle, Managing Partner at KROSE, added: "Our approach is to work hand-in-hand with our clients to help them with their often highly complex risk programmes so Gallagher is the ideal partner to enable us to continue to do this. For us a likeminded partner was absolutely key and I am delighted that we will be part of a global business that is focused on its people alongside its clients and that will allow us to jointly elevate our unique, first-class service to an even higher level."