Arthur J. Gallagher & Co. said Tuesday that it has purchased Oxygen Insurance Managers Ltd. of London from Oxygen Holdings PLC.

The price was not disclosed.

Oxygen Insurance specializes in international classes of insurance such as liability, extended warranty, cargo and specie, property, and group personal accident and travel.

It is an authorized underwriting agency representing a number of major insurance companies and Lloyd's Syndicates, acting directly or through a local intermediary.

Sian Fisher, Oxygen Insurance's president, and her associates will continue to operate out of their office as OIM Underwriting Ltd. under the direction of David Ross, the chief executive officer of Arthur J. Gallagher U.K. Ltd., the Itasca, Ill., company's London insurance brokerage arm.

Arthur J. Gallagher & Co. has offices in 15 countries and does business in more than 100 countries globally through a network of correspondent brokers and consultants.

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