ACE Gallagher acquires UPI Brokers in Kuwait to expand regional presence

UPI Brokers, which has operated in Kuwait for more than three decades, serves several of the country’s leading business groups. The acquisition will combine the brokerage’s established local relationships and market expertise with ACE Gallagher’s regional capabilities, specialist resources and international reach.

As part of the deal, Ibrahim Arqawi will join ACE Gallagher Kuwait as executive director and help lead the business’s growth and diversification.

Arqawi has 31 years of insurance experience across several GCC markets. He has also served on the boards of several regional insurance companies and continues to advise on insurance matters.

“Kuwait is a strategic market for our regional growth, and this acquisition represents an important step in advancing that ambition,” said Nagib Bahous, chairman of ACE Gallagher Holding.

“What distinguishes UPI Brokers is the trust and reputation it has built in Kuwait over more than three decades. 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 said.

Arqawi said the deal would allow UPI Brokers to retain the qualities that have underpinned its client relationships while gaining access to greater scale and resources.

“After more than three decades in the Kuwaiti market, continuity and trust remain fundamental to our relationships with clients and colleagues,” Arqawi said.

“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,” he added.