Gallagher buys another Canadian retail brokerage

Arthur J. Gallagher & Co. has acquired Canada-based retail brokerage Cain Insurance Services Ltd., Gallagher said Thursday.

Terms of the transaction were not disclosed.

Founded in 1986, Fredericton, New Brunswick-based Cain has expertise in the public sector, manufacturing, agriculture, realty and construction industries and offers commercial and personal insurance to clients in the region, Gallagher said in a statement.

Cain partners Dan Cain and Luke Cain and around 30 employees will continue to operate from their Fredericton location under the direction of Michael Thornhill, area president of Gallagher’s Atlantic Canada retail property/casualty brokerage operations, Gallagher said.

The move builds on Gallagher’s growing presence across Canada.

Headquartered in Rolling Meadows, Illinois, Gallagher is the fourth-largest brokerage ranked by revenue generated by U.S. clients, according to Business Insurance’s 2020 ranking.