BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Arthur J. Gallagher & Co. (AJG) said its UK-based specialist underwriting subsidiary Pen Underwriting has acquired Fender Marine AS. The Norwegian managing general agent specializes in providing marine hull and protection & indemnity coverages for smaller fleets and specialist working vessels, and insurance for yachts and pleasure craft, cargo and subsea equipment. Terms of the deal were not disclosed.
Arthur J. Gallagher & Co. noted that Ola Skauge will continue to lead the team alongside founders Tore Hoisaether and Christian Lien. The business will become part of Pen Underwriting.
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