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- Gallagher diversifies Canadian presence with deal in core province of Quebec
Gallagher gains presence in Quebec with acquisition of GPL Assurance Inc
Arthur J. Gallagher has extended its investment in Canada and further diversified it geographic presence with the acquisition of retail insurance broker GPL Assurance Inc. (‘GPL’) in Quebec. Terms of the transaction were not disclosed.
Based in Montreal and Laval, and established in 1968, GPL specialises in developing tailored risk management and insurance solutions for large corporates, mid-market and smaller business clients as well as personal lines solutions for private individuals across the province of Quebec. GPL has particular sector specialisms in commercial/SME, construction and the knowledge-based economy, such as technology and health sciences.
The deal builds on Gallagher’s existing Canadian operations — already one of Canada’s largest retail insurance brokers — creating a combined entity of more than 900 people with complementary expertise. It also broadens the geographic reach of Gallagher, establishing a new and valuable platform in Quebec, Canada’s second biggest economy, where GDP growth is currently outpacing the national average.
Stephen Bryant, National President for Arthur J. Gallagher in Canada, said: “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, commented: “Becoming part of Gallagher, with its global resources and strong regional operations around the world, will enable us to continue our journey of profitable growth. It will also enhance the support we give to our international clients, by securing access to additional sector specialists, facilities and markets. As a broker run by brokers, Gallagher was our first and only choice as a merger partner — a group that shares our client-first culture and really values the importance of on-the-ground expertise and local knowledge. I’m excited by what we can achieve together.”
Commenting on the acquisition, Vyvienne Wade, CEO - Overseas, Arthur J. Gallagher and Chairman of Canada, added: “With its risk management-led offering and strength in specialist segments, GPL fits with our proven growth strategy of partnering with entrepreneurial brokers that are best in geography and niche to deliver unrivalled risk and insurance solutions for our clients. We’re delighted to welcome the GPL team to Gallagher.”