Brokerage development via acquisition in Canada proceeded at a torrid tempo this previous week.
Massive Canadian brokerages Westland Insurance coverage Group and Acera Insurance coverage Providers Ltd. every introduced new offers, whereas Navacord Inc. expanded two of its specialty brokerages in Canada’s capital area:
- Westland acquired Alberta-based Canadian Particular Dangers Inc., efficient June 1.
- Acera Insurance coverage acquired Ontario-based Dorey & Tolgyesi Insurance coverage Brokers Ltd.
- Navacord brokerages Petrela, Winter & Associates and Jones Deslauriers every opened new workplaces in Ottawa.
Westland says its deal marks one other milestone within the brokerage’s ongoing growth efforts throughout the nation. Athabasca, Alta.-based Canadian Particular Dangers is a well-established business brokerage specializing in business welding packages. Particularly, the agency presents welders business normal legal responsibility, oil and fuel consultants and inspectors CGL, electrical contractor CGL, business property legal responsibility, product legal responsibility and property insurance coverage, in line with its web site.
“The crew at Canadian Particular Dangers are on the high of their class and have invaluable expertise and perception to supply,” says Westland president and CEO Jamie Lyons. “With this partnership, we’re well-positioned to supply enhanced insurance coverage options tailor-made to the distinctive dangers and challenges confronted by our Alberta enterprise shoppers.”
Westland has made a few other deals this yr. Most not too long ago, Westland expanded its worker advantages choices with the acquisition of Dupuis Langen Group in Richmond, B.C.
Acera’s transaction with Dorey & Tolgyesi Insurance coverage Brokers marks the brokerage’s fourth deal in Ontario up to now in 2024, following partnerships with KRS Insurance Brokers Inc., Inexperienced Advantages Group and Dominion Group Advantages.
Kingston, Ont.-based Dorey & Tolgyesi Insurance coverage is the most important unbiased brokerage within the metropolis and has a second location in Tub, Acera mentioned Wednesday. “Co-founder Ernie Tolgyesi has been steadfast in sustaining an area unbiased dealer channel since opening Dorey & Tolgyesi greater than 15 years in the past.”
The brokerage presents auto, property, business and group insurance coverage.
Acera’s deal closed June 1, and Dorey & Tolygesi will finally transition to develop into Acera Insurance coverage. “This partnership helps Acera Insurance coverage’s dedication to make sure there stays a aggressive unbiased, Canadian-owned brokerage possibility in Ontario, the place it now has workplaces in Aurora, Tub, Brampton, Burlington, Hamilton, Huntsville, Kingston, London, Newmarket, Ottawa and Welland.”
Territorial growth
In the meantime, Navacord specialty brokers Petrela, Winter & Associates and Jones DesLauriers expanded in Ottawa.
Building specialist Petrela, Winter & Associates, a Navacord dealer accomplice since 2015, opened their latest workplace in Ottawa, efficient Could 29. The brokerage presents specialised insurance coverage, together with bonding options and recommendation to contractors and builders throughout Canada.
Petrela Winter’s Ottawa workplace is led by Alexander Petrela, alongside a crew of veteran threat advisors. Its different workplace areas embrace Toronto, London and Sudbury.
One in all Navacord’s largest dealer companions, Jones Deslauriers, additionally enhanced its Ottawa presence by integrating Binks Insurance and Risk Balance Insurance into its model, efficient June 1.
In operation for greater than a century, Binks is well-known for its experience in servicing automotive dealerships, non-profit organizations and high-risk business placements. Danger Steadiness Insurance coverage was established in 2016; its sectors embrace expertise and life sciences, in addition to non-profit organizations.
These newest offers proceed an already-busy month of June M&A activity, together with offers involving BrokerLink, StoneRidge Insurance coverage and McDougall Insurance coverage.
Acera Insurance coverage has already closed one other deal efficient June 1 — Janzen Insurance coverage Brokers Ltd. in Surrey, B.C. The crew of six behind this brokerage have been offering dwelling, auto and business insurance coverage underneath the Janzen Insurance coverage title since 2017, with founders Andrew and Charlene Janzen every within the trade for 30 years.
Function picture by iStock.com/Atstock Productions
