Arthur J. Gallagher (NYSE:AJG) bolstered its international risk management division on Monday, announcing that its subsidiary Gallagher Bassett has acquired Bremen, Germany-based Reck & Co.
The deal, effective Feb. 2, 2026, marks a strategic expansion of the firm’s European marine and transport claims capabilities, integrating a specialist team focused on surveying, loss prevention, and recovery services.
The acquisition follows a robust fiscal 2025 for the Illinois-based insurance brokerage, which reported record annual revenue of $13.78 billion.
For the fourth quarter ended Dec. 31, 2025, Gallagher posted net income of $151 million, or 58 cents per share.
On an adjusted basis, earnings reached $2.38 per share, surpassing the $2.35 average estimate of seven analysts surveyed by Zacks Investment Research.
Revenue for the quarter totaled $3.63 billion, fueled by a 38% surge in its brokerage segment and 2025's total of 31 completed buyouts.
Under the terms of the new agreement, the Reck & Co. leadership team, including Franz Kasten and Marc Friedrich, will remain in Bremen.
The unit will report to Manan Sagar, head of Gallagher Bassett’s Europe, Middle East, and Asia operations.