Gallagher acquires retail agency, marine MGA in separate deals

Arthur J. Gallagher & Co. said Thursday it has acquired The Andersen Group, a retail agency based in Chantilly, Virginia.

Separately, Gallagher said its Pen Underwriting Ltd. unit has acquired Fender Marine AS, a specialty managing general agent based in Bergen, Norway.

Terms of the transactions were not disclosed.

The Andersen Group places coverage for nonprofit trade associations, government contractors and engineering services companies in the greater Washington area.

Founder Frank Andersen and about five employees will operate under the direction of Bumpy Triche, head of Gallagher’s Mid-South retail property/casualty brokerage operations, Gallagher said.

In the second deal, Pen Underwriting acquired Fender, a specialty MGA that provides marine hull and protection and indemnity coverages for smaller fleets and specialist working vessels, as well as coverage for yachts, pleasure craft, cargo and subsea equipment.

Founded in 2005 by Tore Hoisaether, chairman and director, and Christian Lien, director, Fender will become part of Pen Underwriting’s international and financial lines division and will continue to be led by CEO Ola Skauge, Gallagher said.

Fender has 17 employees and generates £14 million ($17.8 million) in annual gross written premium from its offices in Bergen and Oslo, Gallagher said.