ACE Gallagher Holding has announced the acquisition of United Partners Insurance Brokers (UPI Brokers), a well-established insurance brokerage in Kuwait.
The acquisition strengthens ACE Gallagher’s existing presence in Kuwait and supports the Group’s strategy of expanding across its core GCC markets.
Over more than three decades, UPI Brokers has built a strong reputation for serving many of Kuwait’s leading business groups. The combination brings together UPI Brokers’ established local relationships and market expertise with ACE Gallagher’s regional capabilities, specialist resources and international reach.
Growth and diversification
As part of the acquisition, Ibrahim Arqawi will join ACE Gallagher Kuwait as Executive Director, helping lead the business’s continued growth and diversification. Arqawi brings 31 years of insurance experience across several GCC markets. He has also served on the boards of a number of regional insurance companies and remains an active adviser on insurance matters.
“Kuwait is a strategic market for our regional growth, and this acquisition represents an important step in advancing that ambition. What distinguishes UPI Brokers is the trust and reputation it has built in Kuwait over more than three decades,” asserted Nagib Bahous, Chairman, ACE Gallagher Holding.
“By combining that strong local foundation with ACE Gallagher’s regional capabilities and international reach, we are confident that we can deliver greater value, broader expertise and enhanced service to clients across Kuwait,” he continued.
Access to expertise and resources
“Joining ACE Gallagher enables us to preserve the qualities that have defined UPI Brokers while gaining access to the scale, expertise and resources required to serve our clients even more effectively. This marks an important new chapter for our business, our people and our clients,” explained Arqawi.
UPI Brokers is a Kuwait-based, independently owned insurance brokerage established in 2013.
ACE Gallagher is a leading regional insurance and reinsurance broker with more than 70 years of experience in the business.
