Gallagher boosts aviation insurance expertise through BMG acquisition
Published 10 December 2018
Gallagher has boosted its aviation insurance capabilities in Australia and New Zealand through the acquisition of specialist broker BMG Aviation.
Established 1987 in Auckland, New Zealand, BMG Aviation moved into the Australian market in in 2008 before expanding from Queensland into Western Australia 5 years later.
BMG's diverse client portfolio ranges from regional airlines and corporate jet operators to aero medical operators, tourism, flight training, aerial agriculture, firefighting, mustering, privately owned aircraft, aircraft maintenance and ground handling liability, and drones.
BMG's Australian network also includes South East Asia and the Pacific region, where they are the preferred broker to a number of key aviation businesses.
Paul Harvey (pictured), Managing Director – Specialisms at Gallagher, said: “The aviation industry plays a critical role in driving the Australian and global economy. Bringing BMG's specialist capability to Gallagher positions us to support the growth of corporate, commercial and private aviation operators in the region, as well as the industries that support aviation through our broader specialism offering.
“The ability to bring international breadth and depth of expertise in this space is a significant value-add for clients."
BMG's Damian Hooper (pictured), a 24-year insurance industry veteran who has specialised in aviation insurance for 18 years, becomes Gallagher's new Head of Aviation.
"The aviation sector in Australia and internationally is experiencing significant growth at the moment, and Gallagher's size and leverage with major insurers will provide us with greater access to emerging markets," Hooper said.
"From a people perspective it's also a good opportunity for us. We've got great people at BMG and being able to provide them with career pathways of the type available at a global company like Gallagher is very appealing.
"And finally, Gallagher was a natural fit for BMG because of its fundamental focus on client service, which resonates with us because it's the principle we have built our business on."
The BMG Aviation partnership was part of a global deal, where Gallagher acquired various entities within the Boston Marks Insurance Group, including wholesale operations in the UK and US.