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Gallagher buys Canadian broker

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Arthur J. Gallagher & Co. has acquired Canadian retail insurance broker GPL Assurance Inc., Gallagher said Thursday.

Terms of the transaction were not disclosed.

GPL, based in Montreal and Laval, Quebec, serves large corporates, midmarket and small business clients across the province, specializing in SMEs, construction, technology and health sciences, Gallagher said in a statement.

GPL President and CEO Louis-Thomas Labbé and his associates will continue to operate in their current locations in Montreal and Laval under the direction of Stephen Bryant, head of Gallagher's Canadian brokerage operations, the statement said.

The deal will add roughly 120 people to the more than 800 Gallagher has in Canada now, according to a company spokeswoman.

The transaction broadens the company’s geographic reach by establishing a platform in Quebec, Gallagher said in its statement.