Toronto broker acquires national reach

The recent acquisition of Galileo Group by a growing Toronto-based broker is a signal that they are ready to take the next step on the national stage, says the company’s President and CEO.

Risk Management News

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The recent acquisition of Galileo Group by a growing Toronto-based broker is a signal that they are ready to take the next step on the national stage, says the company’s President and CEO.

“The Galileo Group acquisition gives us a national platform with Galileo’s Vancouver offices,” says Highcourt Partners Ltd.’s Mark R. McKay. “And it will add two Lloyd’s Binding Authorities.”

The deal announced this week with Highcourt and the privately held Galileo Group will bring Galileo’s private client, equine and agribusiness space to Highcourt’s current offering of boutique risk consulting, risk management and insurance brokering services.

Started in 2011, Highcourt has been focusing on growing the business organically, says McKay, which makes the Galileo move all the more important.

“Growth is hard to come by in this business,” he told Insurance Business,” and the Galileo move was one to increase the platform; to buy capacity, not revenue.”

The origins of the The Galileo Group go back to 1968 with the Carlton family, operating for more than 50 years a unique independent brokerage with offices in Toronto and Vancouver.

Galileo will continue to serve its clients in the same capacity under the Highcourt Partners banner.

Highcourt Partners is a privately held Toronto based corporate insurance broker, advisor and risk consultant. An active member of the UnisonBrokers global network, McKay was named Top 30 Elite Brokers in 2013 by Insurance Business magazine.

 

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