Global insurance brokerage and risk management company Gallagher has acquired German commercial insurance and reinsurance solutions provider KROSE GmbH & Co KG in an undisclosed transaction.
Headquartered in Bremen and founded in 1920, KROSE works with large blue-chip clients across Germany. It specializes in working with in-house risk managers and insurance departments of large enterprises to design and deploy complex projects.
The company is led by Dr. Oliver Cullmann, Leopold Muhle and Urs Gottwald, who will continue in their roles, with Dr. Andreas Keller becoming the new Managing Director.
KROSE has an experienced team of 70 risk professionals offering expertise in property, casualty, cyber, marine, D&O insurance as well as specialist courses and alternative risk solutions.
Gallagher already has teams operating in Germany, with some of its pan-European leadership team based in the country, a dedicated reinsurance team of more than 50 people mainly from Munich, and Cologne-based Köberich (acquired by Gallagher in early 2024).
The Köberich team focuses on D&O insurance and other financial product lines, and this latest acquisition will allow the two teams to work closely together to expand Gallagher’s client services in Germany and across continental Europe.
Simon Matson, executive vice president at Gallagher Global Brokerage, said: “Our strategic investment in KROSE strengthens Gallagher’s presence in Germany and expands our insurance and reinsurance capabilities in Europe.
“We will focus on bringing together the expertise we now have across all the different German teams to explore further solutions for companies operating in the country, giving us an enviable springboard to further customer growth.”
Commenting on what this means for Gallagher’s European business, Alex Nagler, CEO of Gallagher Europe, said: “KROSE is a perfect match for us and this acquisition provides Gallagher with an excellent opportunity to establish a presence in Germany and enables the teams at KROSE and Köberich to expand its current client offerings. Many KROSE clients are large multinationals with complex risks to manage, and being able to tap into Gallagher’s global expertise will further enrich their client offerings.”
“KROSE has been around for over 100 years and has well-deservedly gained a very positive reputation for the exceptional service it provides to its customers, an approach we highly value. I look forward to working with the management team to further expand the business and how we support companies based in Germany.”
Dr Cullmann commented: “This is an exciting milestone for our team and becoming part of a global broker like Gallagher will enable us to drive the business to the next stage of growth, adding broader capabilities, deeper industry expertise and better access to international markets.”
