Global insurance brokerage Gallagher has completed the integration of specialist brokerage Woodruff Sawyer, bringing the San Francisco-based firm fully under the Gallagher brand following its previously announced $1.2bn acquisition.
The integration marks the final stage of Gallagher’s acquisition of Woodruff Sawyer and is designed to strengthen its position in the US insurance brokerage market, according to InsurTech Insights.
By fully absorbing the business into its operations, Gallagher aims to broaden its sector expertise, deepen client relationships and unlock operational synergies across its property and casualty offerings.
Woodruff Sawyer is recognised for its focus on commercial property and casualty insurance, employee benefits and risk management services. The firm has built a strong reputation serving middle-market and large organisations, particularly in sectors such as technology, construction, real estate and private equity. Prior to the acquisition, Woodruff Sawyer operated 14 offices across the US and maintained a presence in the UK.
Gallagher is one of the world’s largest insurance brokerage, risk management and consulting firms, providing services to clients across commercial, industrial and public sector markets. Its US retail property and casualty brokerage operations form a core part of its business, offering tailored risk solutions and access to global insurance markets. The integration of Woodruff Sawyer further enhances Gallagher’s depth in specialist risk areas.
Following the completion of the integration, Andy Barrengos, who has been leading the Woodruff Sawyer team, will now operate within Gallagher’s US retail property and casualty brokerage operations. He will do so under the oversight of Peter Doyle, aligning leadership structures as the two businesses are fully combined. The move is expected to bolster Gallagher’s capabilities in management liability, construction and real estate risk solutions.
Financially, Woodruff Sawyer reported pro forma revenue of approximately $268m for the 12 months ending 31 December 2024, alongside EBITDAC of $88m when factoring in expected synergies. Integration and non-cash management retention costs are projected to total around $150m over a three-year period, reflecting the scale and complexity of the transaction.
The acquisition and subsequent integration represent a strategic step for Gallagher as it continues to consolidate its US brokerage footprint. By bringing Woodruff Sawyer fully under its brand, Gallagher is seeking to enhance its expertise in key specialty sectors, expand its service offering to both existing and new clients, and capture long-term operational efficiencies.
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