August 4, 2017 by Canadian Underwriter
Arthur J. Gallagher (AJG) announced late Thursday that it has “extended its investment in Canada and further diversified it geographic presence” with the acquisition of retail insurance broker GPL Assurance Inc. in Quebec.
Terms of the transaction were not disclosed.
Established in 1968 and based in Montreal and Laval, GPL specializes in developing tailored risk management and insurance solutions for large corporations, mid-market and smaller business clients, as well as personal lines solutions for private individuals across the province of Quebec, Montreal-based public relations firm Citoyen Optimum said in a press release. GPL has particular specialization in commercial/small-to-medium enterprises, construction and the knowledge-based economy, such as technology and health sciences.
The deal builds on AJG’s existing Canadian operations – already one of Canada’s largest retail insurance brokers – and creates a combined entity of more than 900 people with complementary expertise. It also broadens the geographic reach of AJG, “establishing a new and valuable platform in Quebec, Canada’s second biggest economy, where GDP growth is currently outpacing the national average,” the release said.
Stephen Bryant, national president for AJG in Canada, said that over the past 50 years, “GPL has built an enviable reputation in Quebec for strong organic growth and outstanding client servicing, based on value-added, professionalism and the creation of trusted long-term relationships. This makes them a great new partner for Gallagher Canada, where geographic diversification and strategic expansion into Quebec has been a natural priority, completing as it does our presence in all of Canada’s major economic centres. We very much look forward to working with Louis-Thomas and his team to ensure our clients fully benefit from the collective strength of our combined offering.”
Louis-Thomas Labbé, president and CEO of GPL, said that becoming part of AJG, “with its global resources and strong regional operations around the world, will enable us to continue our journey of profitable growth. We will be in a position to increase the support offered our clients by guaranteeing additional access to industry specialties and to a network of local offices located in major markets throughout the globe.”
Arthur J. Gallagher, the brand name for the international broking division of Arthur J. Gallagher & Co. outside of the United States, employs approximately 6,850 staff across the United Kingdom, Australia, Canada, the Caribbean, Chile, Colombia, New Zealand, Norway, Peru, Singapore and Sweden. In Canada, AJG employs more than 900 people and clients range from individuals, association and affinity partners to commercial clients, including sole proprietors and international publicly-traded companies.
Parent company Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Ill., has operations in 33 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
GPL Assurance offers general insurance and risk management services to clients, with activities on five continents. The firm has more than 120 employees in its Montreal and Laval offices. GPL’s multi-discipline team operates in a wide variety of industry sectors, from aerospace to construction, retail distribution and manufacturing.