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.
While specific financial terms were not disclosed, the move aligns with Gallagher’s broader 2026 strategy to deepen its specialized claims offerings in the EMEA region following the successful integration of previous marine-focused acquisitions.