Global broker Gallagher has agreed to buy Florida group AssuredPartners for $US13.45 billion ($21 billion).

AssuredPartners is a broker with offices across North America, England, Scotland, Ireland and Belgium working in commercial property and casualty, specialty, employee benefits and personal lines.

“We have held in high regard the fast-growing AssuredPartners franchise since its founding in 2011,” Gallagher chairman and CEO J Patrick Gallagher said.

“AssuredPartners’ entrepreneurial spirit, broad US footprint and middle-market focus make it an ideal merger partner for Gallagher. By further leveraging our deep industry verticals, investments in data and analytics, access to specialty products, our common systems and standardised service model, together we can provide even more value to clients and further position Gallagher for future growth.”

AssuredPartners CEO Randy Larsen said: “With Gallagher, we bring together not only unparalleled global resources and expert insights but also a team of exceptional employees whose expertise and dedication have been the driving force behind our success. I am excited for our future together.”

US-based Gallagher says the acquisition will add scale and expertise to its UK and Ireland operations; create opportunities for the wholesale, reinsurance and claims management businesses; and expand its retail middle-market property and casualty and employee benefits focus across the US.

The deal is expected to close in the first quarter of next year, subject to regulatory approvals.

From Insurance News magazine: We analyse the federal flood inquiry's final report, and examine what it means for Australia's future resilience