Arthur J. Gallagher has acquired B.R. Rhymer Insurance Agencies Ltd., a Canadian personal and commercial lines broker located in Winnipeg, Manitoba.
The agreement will see the business, which has been operating under a franchise agreement since 1995, become wholly owned by Gallagher and part of Arthur J. Gallagher Canada Ltd., the Toronto-based insurance broker.
B.R. Rhymer brings complementary specialisms in automotive and homeowners insurance to Gallagher’s existing Canadian operations, as well as expertise in providing personal insurance coverage, Arthur J. Gallagher said in a statement.
Gallagher said this merger is part of “its long-standing strategy of partnering with smaller, family owned and entrepreneurial brokers to facilitate consistent and profitable growth across the territories in which the business operates.”
“We have enjoyed a long and successful partnership with B.R. Rhymer and founder Blaine Rhymer for many years, so when the opportunity came up to acquire this business outright we jumped at the chance,” said Kevin Neiles, president for the Prairies region at Arthur J. Gallagher.
“Whilst we are sorry to see a great broker like Blaine retire from the market, we are delighted to be able to continue that heritage by bringing the team into the Gallagher family and building out the existing customer offering in the region,” Neiles added.
“Blaine and the team have built a successful business with an exceptional reputation for customer service, as evidenced by their long-standing and loyal client base,” said Ken Keenan, CEO of Arthur J. Gallagher Canada.
“They are committed to delivering a personal and professional service, something the Gallagher brand has been built on, and I look forward to having Debra Lynn Litman, Karl Rhymer, and Ravneet Sidhu join the team,” Keenan added.
B.R. Rhymer previously traded in Canada under the Ranger Insurance brand, as a franchisee. Gallagher acquired the Ranger brand during its acquisition of Noraxis in July 2014.
Because it is now part of the Gallagher family in Canada, Rhymer is selling the brokerage back to Ranger and now will operate as Arthur J. Gallagher, a company representative said.
Source: Arthur J. Gallagher
Topics Mergers & Acquisitions Agencies A.J. Gallagher Canada
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