ROLLING MEADOWS, Ill. - Arthur J. Gallagher & Co (NYSE:AJG). has expanded its presence in Canada by acquiring Encore Insurance Services Inc., also known as Encore Group, a retail insurance brokerage firm based in Waterloo, Ontario. The firm specializes in serving commercial clients, particularly in the manufacturing, construction, and financial sectors.
The acquisition, announced today, sees Encore Group’s team, including Joe Dalton and Scott Heaman, continuing to operate from their current location. They will report to Dave Partington, who oversees Gallagher’s retail property and casualty brokerage operations in Canada. The financial terms of the deal remain confidential.
J. Patrick Gallagher, Jr., Chairman and CEO of Arthur J. Gallagher & Co., expressed enthusiasm about the acquisition, highlighting the complementary nature of Encore Group’s expertise to Gallagher’s existing operations in Canada. He welcomed the Encore team to the company’s growing global network.
Arthur J. Gallagher & Co., listed on the New York Stock Exchange under the ticker NYSE:AJG, is a global leader in insurance brokerage, risk management, and consulting services. The company operates across approximately 130 countries through its own offices and a network of correspondent brokers and consultants.
This strategic move is part of Gallagher’s ongoing efforts to strengthen its service offerings and expand its market reach. The integration of Encore Group into Gallagher’s operations is expected to enhance the company’s capabilities in key Canadian industries and provide additional resources to clients in the region.
The information for this report is based on a press release statement.
In other recent news, Arthur J. Gallagher & Co. has been on a strategic acquisition spree, broadening its reach across the United States. The firm recently acquired Afina Insurance Advisors Inc., Durham & Bates Agencies, Inc., M.J. Schuetz Insurance Services Inc., and AssuredPartners. These acquisitions have served to strengthen the company’s presence in the Chicago area, Pacific Northwest, Midwest, and Southeastern U.S. respectively.
The company also issued $5 billion in senior notes, bolstering its financial strategy. On the financial front, Arthur J. Gallagher reported a 13% increase in revenue across its Brokerage and Risk Management segments. Analyst firms such as BMO Capital, Keefe, Bruyette & Woods, and Truist Securities have projected organic growth in these segments for the year 2025.
Following the AssuredPartners acquisition, BMO Capital revised its future estimates for Arthur J. Gallagher, including a 5% increase for 2025 and an 8% rise for 2026. Keefe, Bruyette & Woods and Truist Securities also revised their price targets for Arthur J. Gallagher, with the former raising it to $292 and the latter maintaining it at $275. These are the latest developments in Arthur J. Gallagher & Co.’s ongoing strategy to expand its market presence and enhance its service offerings.
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