Arthur J. Gallagher & Co. Acquires Cain Insurance Services Ltd.
Arthur J. Gallagher & Co. (NYSE: AJG) has acquired Cain Insurance Services Ltd., a Fredericton-based property/casualty broker.
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Rhea-AI Summary
Arthur J. Gallagher & Co. (NYSE: AJG) has acquired Cain Insurance Services Ltd., a Fredericton-based property/casualty broker. While the transaction's terms remain undisclosed, this acquisition aims to enhance Gallagher's existing operations in Atlantic Canada. Founded in 1986, Cain Insurance specializes in commercial and personal insurance, particularly in public sector, manufacturing, agriculture, and construction. The acquisition is seen as a strategic move to complement Gallagher's regional presence and strengthen client relationships.
Positive
- Acquisition enhances Gallagher's regional market presence in Atlantic Canada.
- Cain Insurance's expertise in public sector and agriculture complements Gallagher's offerings.
- Retained management team ensures continuity and established client relationships.
Negative
- None.
Details
News Market Reaction – AJG
The recorded move for AJG in the trading session of this news was +0.33%.
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ROLLING MEADOWS, Ill., Jan. 7, 2021 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Fredericton, New Brunswick-based Cain Insurance Services Ltd. Terms of the transaction were not disclosed.
Founded in 1986, Cain Insurance Services is a retail property/casualty broker offering commercial and personal insurance to clients throughout the region. Cain has broad expertise, with particular strengths in serving clients in the public sector, manufacturing, agriculture, realty and construction, and builds on Gallagher's existing presence across Nova Scotia and New Brunswick. Dan Cain, Luke Cain and their associates will continue to operate from their current location under the direction of Michael Thornhill, B.A., FCIP, CRM, Area President of Gallagher's Atlantic Canada retail property/casualty brokerage operations.
"Cain's broad capabilities and excellent client relationships in the New Brunswick market will complement and enhance Gallagher's growing presence across Atlantic Canada," said J. Patrick Gallagher, Jr., Chairman President and CEO. "We are very pleased to welcome Dan, Luke and their team to our growing global company."
Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 49 countries and offers client-service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
Investors: Ray Iardella | Media: Linda J. Collins |
VP – Investor Relations | VP – Corporate Communications |
630-285-3661/ ray_iardella@ajg.com | 630-285-4009/ linda_collins@ajg.com |
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SOURCE Arthur J. Gallagher & Co.
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