Company: Gallagher Bassett, Reck & Co.
Business Type: Marine Insurance
UK & International Business Sales and M&A News
Gallagher Bassett, a subsidiary of Arthur J. Gallagher & Co., has acquired Reck & Co. GmbH, the German claims service provider for transportation and marine.
Reck & Co. is an independent specialist in claims services worldwide, led by Franz Kasten and Marc Friedrich. Founded in 1848 and based in Bremen, it 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.
The company has been a Lloyd’s Agent since 1891.
Kasten said:
“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.”
Franz Kasten - Managing Partner of Reck & Co.
Kasten and 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).
Gallagher Bassett is a provider of claims and risk management services, helping people and companies prevent, manage and overcome the impact of risk. Founded in 1962 and with regional operations in the United Kingdom, Netherlands, Singapore, North America and Australia, it delivers claims and risk management solutions for brokers, corporates, public sector and insurance carriers, including captives, mutuals, managing general agents and managing general underwriters (MGAs and MGUs), and Lloyd’s of London.
Manan Sagar, Gallagher Bassett’s EME&A CEO, commented:
“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.”
Manan Sagar – Gallagher Bassett's EME&A CEO
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.
The acquisition was managed by Matt Foote, Global Head of Mergers and Acquisitions. He concluded:
“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.”
Matt Foote – Global Head of Mergers and Acquisitions at Gallagher Bassett
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