Arthur J. Gallagher & Co. has acquired Canadian-based retail broker Cain Insurance Services Ltd., Gallagher said Thursday.
The terms of the transaction were not disclosed.
Founded in 1986, Fredericton, New Brunswick-based Cain has expertise in the public sector, manufacturing, agricultural, real estate 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 about 30 employees will continue to work from their Fredericton location under the leadership of Michael Thornhill, area president of Gallagher & # 39 ;s Atlantic Canada retail / accident brokerage business, Gallagher said.
The move is based on Gallagher's growing presence across Canada.
Headquartered in Rolling Meadows, Illinois, Gallagher is the fourth largest broker ranked by revenue from US clients, according to Business Insurance 202 0 ranking.