Anthony Clark Expands U.S. Network

Calgary-based Anthony Clark International Insurance Brokers (TSX: ACL) has added its third U.S. brokerage to its network, and its first on the east coast. Anthony Clark’s U.S.-based Addison York Insurance Brokers Ltd. has purchased the fixed assets and customer accounts of Al Vinciguerra Ltd., located in Norfolk, Virginia.

The acquisition is valued at around $9.03 million. Anthony Clark expects the purchase will boost the network’s annual revenue by as much as 60%, pushing total premiums handled to more than $100 million based on approximately 60,000 customers.