Gallagher Bassett, a subsidiary of Arthur J. Gallagher & Co. (NYSE: AJG), has announced the acquisition of Reck & Co. GmbH (Reck & Co.) — the Bremen, Germany-based claims service provider specialising in the field of transportation and marine.
Reck & Co. delivers surveying, claim handling, recovery and loss prevention services to a global clientele from its offices across Europe, utilising an extensive partner network of 250 organisations. Founded in 1848 and a Lloyd's Agent since 1891, the company has a longstanding reputation for deep expertise in the global marine and transit claims management market.
Business leaders Franz Kasten and Marc Friedrich will remain in their current positions and location under the direction of Manan Sagar, CEO of Gallagher Bassett Europe, Middle East and Asia (Gallagher Bassett EME&A).
Kasten expressed his excitement to join Gallagher Bassett:
"Reck & Co. and Gallagher Bassett are both committed to designing tailored solutions that achieve quality outcomes, and the philosophy that client satisfaction is the best measure of success. It is this cultural alignment that assures me we will accomplish great things together."
The deal marks a significant step in Gallagher Bassett's growth strategy for the marine sector, following the company's acquisition of global marine and transit claims manager W K Webster in 2025.
Gallagher Bassett EME&A CEO, Manan Sagar, commented on how this acquisition will drive the organisation's growth:
"Our objective is to establish ourselves as the leading global provider of marine and transit claims management solutions. The acquisition of Reck & Co. adds scale and efficiency to our existing marine claims offering while also enhancing capabilities in recoveries, loss prevention and risk assessment.
"Reck & Co. also brings a strong geographic foothold in Europe, allowing us to offer our clients more comprehensive, localised solutions throughout the continent."
The acquisition was managed by Matt Foote, Global Head of Mergers and Acquisitions, who commented:
"Our M&A approach is an integral part of our long-term growth plans, especially in marine. Gallagher Bassett will continue to prioritise opportunities which support our strategy and align with our core values."
With the addition of W K Webster and Reck & Co. over the past 12 months, Gallagher Bassett has quickly built a strong service offering in the marine and transit domain.
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