Arthur J. Gallagher & Co. increased its presence in Ontario by acquiring Waterloo-based Encore Insurance Services Inc., which does business as Encore Group, Gallagher announced in a press release.
Terms of the transaction were not disclosed.
Encore Group is a retail insurance brokerage firm serving commercial clients primarily in Ontario, which focuses on coverage for manufacturing, construction and financial institutions.
The 80-year-old business has “significant experience and specialization in…unique and complex insurance program design,” according to the firm’s LinkedIn profile.
Encore’s Joe Dalton, Scott Heaman and their team will remain in their current location under the direction of Dave Partington, head of Gallagher’s Canadian retail property and casualty brokerage operations.
“Encore was appealing to us for several reasons – the first, was that they’re locally owned and operate in Waterloo, which is a growing area of interest for our…business in Canada,” Tyler Averill, Gallagher’s president for retail, Canada, tells Canadian Underwriter.
“Second, Joe and Scott have built a business that has very similar values…so it was a perfect cultural fit. They also happen to be two very highly respected leaders in the industry, not to mention great people! We hit it off with them from the very first meeting.”
Averill said Encore’s specialties in manufacturing, construction and financial institutions “was a small factor in our decision” to acquire the firm.
“These are all areas we are looking to expand upon in Ontario, however, with a newly enhanced team, it helps us better support clients and opens doors to meet new prospects in other provinces as well,” he tells CU.
Arthur J. Gallagher & Co. is a global insurance brokerage, risk management and consulting services firm, headquartered in Rolling Meadows, Illinois.
“Encore Group is a highly regarded firm whose expertise complements our existing retail brokerage capabilities in Canada,” says chairman and CEO J. Patrick Gallagher Jr. in a press release. “I am excited to welcome Joe, Scott and their associates to our growing, global team.”
Feature image by iStock/Amir Ali
