Arthur J. Gallagher & Co-backed Gallagher Re, a reinsurance division, completed the acquisition of Bay Risk, a company specializes in structuring and placing contracts of delegated underwriting authority. Financial terms were not disclosed. "Bay Risk is a highly regarded specialist binder broker that will be a fantastic addition to Gallagher Re and the expanding global programs practice. It shares our focus on client excellence and brings a complementary book of delegated underwriting authority business. We are delighted to welcome Andrew, Robin and their colleagues to our growing global team," J. Patrick Gallagher, Gallagher Chairman, President and CEO.