Gallagher buys Oval for £199m
Oval chief Blanc to replace McManus in UK retail leadership role.
Arthur J Gallagher has acquired the Oval Group for a total net consideration of approximately £199m payable in cash.
Peter Blanc, group CEO of Oval, will become CEO of the UK Retail division with immediate effect, following Brendan McManus’s recently announced decision to depart the business, revealed by Insurance Age, once the major integration milestones incorporating the Giles business have been reached.
McManus will work with Blanc towards a phased handover in January 2015 in a consultancy
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