Arthur J. Gallagher, an Illinois-based insurance brokerage firm, has snapped up Ontario-based Leystone Insurance & Financial for an undisclosed sum.
Leystone, set up in 2001, provides employee benefits as well as retirement consulting services. The business focuses on offering individual life insurance and investment strategies for Ontario-based clients.
David McCulloch, Darryl Phippen along with their associates will continue to be based at their existing location.
They will work under the guidance of Leslie Lemenager, who leads Gallagher’s international employee benefits consulting and brokerage unit.
Arthur J. Gallagher chairman, president and CEO J. Patrick Gallagher, Jr. said: “Leystone Financial is a well-regarded firm with similar core values that will strengthen Gallagher’s footprint in Ottawa, Canada’s capital. I am happy to welcome David, Darryl and their associates to our growing Gallagher family of professionals.”
Arthur J. Gallagher, which operates in 34 countries, has been on an acquisition spree in the recent times. In June 2018, the firm acquired a majority stake in Swiss insurance firms Hesse & Partner, and Hesse Consulting.
It also acquired UK-based commercial insurance broker Risk Services in May 2018 and US-based Williams Insurance Agency in February this year.