Gallagher buys minority interest in Czech broker Renomia
Gallagher in July 2019 announced the purchase of a minority interest (29.7%) in Czech based insurance broker Renomia.
Founded in 1993 and headquartered in Prague, Renomia is the largest independent broker based in the Central and Eastern Europe (CEE) region, and has achieved double digit growth over the past five years.
This growth is credited to a combination of organic growth and strategic acquisitions. With more than 1,500 associates, the company is still family-run, and has full-scale broking operations in the Czech Republic, Slovakia, Romania, Hungary, Serbia, Bulgaria, and Croatia.
They also have an extensive franchise network, and specialize in insurance and risk management across more than 30 industries.
The transaction is expected to close in the third quarter of 2019.