Arthur J. Gallagher & Co. Acquires Insight Insurance & Risk Management Ltd.
Arthur J. Gallagher & Co. (AJG) has acquired Insight Insurance & Risk Management Ltd., a retail insurance broker based in Edmonton, Alberta.
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Rhea-AI Summary
Arthur J. Gallagher & Co. (AJG) has acquired Insight Insurance & Risk Management Ltd., a retail insurance broker based in Edmonton, Alberta. Although the terms of the transaction remain undisclosed, Insight, founded in 2013, serves a diverse clientele primarily in Western Canada, with expertise in construction, real estate, hospitality, and sports. The Insight team will continue operations under Gallagher's leadership, enhancing its client base and capabilities in key sectors. This acquisition aligns with Gallagher's strategy to expand its global footprint in the insurance brokerage market.
Positive
- Acquisition enhances Gallagher's client base and industry expertise in construction and sports.
- Insight's established presence in Western Canada aligns with Gallagher's growth strategy.
Negative
- None.
Details
News Market Reaction – AJG
The recorded move for AJG in the trading session of this news was +0.06%.
Data tracked by StockTitan Argus. Session date unavailable.
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ROLLING MEADOWS, Ill., Aug. 5, 2020 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Edmonton, Alberta-based Insight Insurance & Risk Management Ltd. Terms of the transaction were not disclosed.
Founded in 2013, Insight is a retail insurance broker serving clients throughout Western Canada. It has a diverse client base and offers particular expertise in serving the construction, real estate, hospitality, sports and entertainment industries. Alexis Harke and her team will continue to operate from their current location under the direction of Kevin Neiles, President, Western Canada for Gallagher's retail property/casualty brokerage operations.
"The Insight team is highly regarded and brings us a diverse and complementary client base, with particular strengths in the construction and sports industries, among others," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "We are delighted to welcome Alexis and her associates to our growing global team."
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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