Global insurance broker Arthur J. Gallagher & Co. has the acquisition of Markham, Ontario-based Excess Underwriting Company.
Founded in 2008, Excess Underwriting Company is a property and casualty managing general agency (MGA) and Lloyd’s broker serving insurance brokers and their clients across Canada.
The team specializes in commercial and residential property and liability, and errors & omissions coverage solutions.
Following the acquisition, George Longo and his team will continue to operate from their current location under the direction of David Partington, CEO of Gallagher’s Canadian retail P&C brokerage operations.
The parties did not disclose terms of the transaction.
“Excess Underwriting brings Gallagher a multiline underwriting platform that enables us, in conjunction with our insurance carrier partners, to introduce new products and capacity to the Canadian marketplace,” said J. Patrick Gallagher, Jr., Chairman, President and CEO of Arthur J. Gallagher.
“We are excited to welcome George and his team to our growing, global company,” he added.