Arthur J. Gallagher & Co. (NYSE: AJG) announced today the acquisition of Burnaby, British Columbia-based Wilson M. Beck Insurance Services Inc. (WMB). Terms of the transaction were not disclosed.
Acquisition Details and Team Retention
WMB provides retail insurance brokerage services primarily to commercial clients in Western Canada. The firm specializes in construction, commercial real estate, surety bonding, hospitality, and mining. The WMB team, led by David Beck, will remain in their current locations and operate under the direction of Dave Partington, head of Gallagher’s retail property/casualty brokerage operations in Canada, Latin America, and the Caribbean.
Strategic Rationale
“WMB’s excellent reputation for niche industry expertise will enhance our retail brokerage capabilities in Canada,” said J. Patrick Gallagher, Jr., Chairman and CEO of Arthur J. Gallagher & Co. “I am very pleased to welcome David, his partners and associates to Gallagher.”
About Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co., headquartered in Rolling Meadows, Illinois, is a global insurance brokerage, risk management, and consulting services firm. The company operates in approximately 130 countries through owned operations and a network of correspondent brokers and consultants.
Investor Relations: Sara Walsh, CFA, 630-285-3593, sara_walsh@ajg.com. Media Relations: Paul Day, 630-285-5946, paul_day1@ajg.com.
