Broker Looks to Expansion with Swedish Acquisition

Gallagher has announced it has increased its footprint in Scandinavia by acquiring specialist Swedish broker Proinova.

The broker said it sees Scandinavia as a core area of strategic development and the deal “builds on the previous acquisitions of international marine and energy broker Bergvall Marine AS, based in Norway; specialist credit, political risk and construction broker Brim AB, based in Stockholm; and property and casualty insurance broker Nordic, based in Gothenburg, which added further specialisms including life sciences, transportation and engineering”.

It added Proinova delivered complementary specialisms to the existing Swedish operations and allows Gallagher to strategically extend its geographic presence into the southern region of the country, while simultaneously adding new areas of expertise to expand its capabilities and product offering to clients across Scandinavia.

Vyvienne Wade, CEO of Gallagher’s International division, commented: “Proinova is an impressive business, with high quality people who focus on culture and clients first and foremost, just as we do at Gallagher. Their location in the south of Sweden is an excellent geographic fit with our existing operations, as we look to continue our strategic growth in Scandinavia.”

Founded in 1989 by CEO Sten Eriksson, Proinova is family-run, headquartered in Helsingborg and has a 19-strong team. The firm has a particular specialism in group solutions for the real estate sector.

Anders Mjaaland, head of Gallagher’s Scandinavian operations, commented: “As we look to scale up and diversify our client offering in the region, Sten and his team are a fantastic addition to the business. In particular their strengths in real estate are highly complementary to our existing specialist practices, helping us to deliver an increasingly compelling proposition for a diverse mix of clients. We are delighted to welcome our new Proinova colleagues into the Gallagher family.”