Gallagher has acquired all of the remaining shares of Swiss insurance broker Hesse & Partner AG and Hesse Consulting GmbH. Details of the transaction will not be disclosed.
Swiss insurance broker Hesse, established in 1997 and headquartered in Zurich, provides risk management and insurance solutions for companies of all sizes, from small and mid-sized enterprises to major international corporations, in the industrial and service provider sectors.
Gallagher acquired 65% of Hesse three years ago, enabling the Swiss broker to meet growing opportunities of market globalisation and give the business wider access to international markets and expertise. The business will rebrand to Gallagher in the coming months.
As part of the transition, Guido Hesse will no longer work on the operational side of the business and will focus on the strategic leadership as Chairman of the Board. Stephan Bachmann will become CEO. As a member of the executive management team, he was previously in charge of international clients and property insurance, overseeing national and international industrial clients. Previously, Bachmann held various leadership positions at well-known international industrial insurers in Switzerland and abroad.
Vyvienne Wade, Chairperson of Gallagher Global Broking in Europe, Middle East, & Asia commented:
“Creating a wholly owned on-the-ground Gallagher presence in the strong economy of Switzerland, with its mature and globally significant insurance market, is another exciting development in our current European expansion. The Hesse & Partner team has an excellent reputation for providing innovative solutions for industrial and commercial clients and it is known for its exceptional industry expertise in the increasingly important waste-to-energy sector. We have built a strong rapport with the firm and under the leadership of Stephan, the team will play an important role in our development and growth in Switzerland.”
Guido Hesse, Chairman and Founder of Hesse & Partner, added “As a fully integrated part of Gallagher in Switzerland we are in a strong position to offer our clients the best solutions both in the national and international arena. Additionally, we are expanding our office network and investing in digitalization to improve the exchange of data and information with our clients and partners by implementing an improved IT system, which will create added value for both our clients and for us.”
The number of employees will significantly increase as a result of the opening of a new branch in Geneva which will be headed by Anthony Faessler.