February 5, 2015 by Canadian Underwriter
Seven months after it acquired a majority interest in Noraxis Capital Corp. Arthur J. Gallagher & Co. has acquired another Canadian insurance brokerage.
Itasca, Ill.-based Gallagher announced Thursday it has acquired Cohen & Lord Insurance Brokers Ltd., an Ottawa firm that provides property & casualty insurance in Ontario and Quebec. Its markets include commercial realty and condominiums, construction and fleet, as well as personal lines for wealthy individuals.
The terms of the transaction were not disclosed.
Gallagher provides retail and wholesale commercial insurance brokerage services, as well as risk management services. It has operations in 30 countries.
The Registered Insurance Brokers of Ontario’s registry indicates Horace Cohen is the principal broker at Cohen & Lord.
“Horace Cohen, Irvin Hoffman, Andrew Swant and their associates will continue to operate in Ottawa under the direction of Steve Bryant, head of Gallagher’s Ontario property/casualty brokerage operations,” Gallagher said in a release.
In July, 2014, Gallagher completed its acquisition, of Noraxis, from Roins Financial Services Limited, which also owns the RSA Canada group of companies.
Gallagher now has about an 87% equity interest in Noraxis, a brokerage that operates in Alberta, Manitoba, New Brunswick, Nova Scotia and Ontario.