BrokerLink has accomplished its largest Ontario deal thus far and entered into Manitoba and Saskatchewan with the acquisition of The Commonplace Insurance coverage Brokers Ltd.
In different M&A information, Acera Insurance coverage, StoneRidge Insurance coverage and McDougall Insurance coverage additionally not too long ago introduced brokerage offers.
BrokerLink’s latest partnership “expands BrokerLink’s companies all through Northern Ontario and introduces the brokerage to 1000’s of latest clients in Manitoba and Saskatchewan,” the agency stated in a press launch Wednesday.
Established in 1897, The Commonplace affords clients in northwestern Ontario, Manitoba and Saskatchewan tailor-made insurance coverage options for house, auto, enterprise, farm, leisure autos, life, group advantages and extra. “The brokerage can also be well-known for its experience in specialty insurance coverage applications, together with vacationer resorts, RV campgrounds, aerial crop spraying {and professional} legal responsibility for architects and engineers,” BrokerLink says.
The Commonplace has grown considerably over the previous century within the three provinces through which it operates, BrokerLink provides. It has workplaces in Kenora, Dryden, Pink Lake, Sioux Lookout, Thunder Bay and Fort Frances in Ontario, Winnipeg and Flin Flon in Manitoba, and Creighton, Sask.
BrokerLink has invested and expanded into greater than 10 communities in Alberta and Ontario this yr, including greater than 400 insurance coverage professionals to its staff. Amongst others, its acquisitions embody Hanbidge and Bowman Insurance, Powell Insurance coverage Brokers, Bastow Insurance coverage, Law Insurance Brokers, MKMK Group and the personal and small-to-medium-enterprise commercial insurance book of business from Halpenny Insurance coverage Brokers.
BrokerLink is a subsidiary of Intact Monetary Company and considered one of Canada’s largest P&C insurance coverage brokerages, with greater than 200 branches and three,700 workers.
Business vets be part of staff
For its half, Acera Insurance coverage Companies Ltd. partnered with Janzen Insurance coverage Brokers Ltd. in Surrey, B.C. The staff of six behind this brokerage have been offering house, auto and business insurance coverage beneath the Janzen Insurance coverage identify since 2017. Founders Andrew and Charlene Janzen have been within the insurance coverage business for 30 years.
“With overseas buyers and insurance coverage company-owned aggregators growing their mergers and acquisitions exercise, Acera Insurance coverage’s distinctive benefit of being 100% Canadian-owned and impartial appealed to Janzen,” Acera stated in a launch issued Wednesday.
The deal closed June 1, and Janzen Insurance coverage might be transitioning to grow to be Acera Insurance coverage over the approaching months. This marks a second location for Acera within the Larger Vancouver space, the place it additionally has an workplace in Burnaby, B.C.
Acera has made a number of transactions this yr, primarily in the advantages house. It says it’s the biggest impartial, employee-controlled brokerage in Canada, with 1,200 workers and greater than 650 worker homeowners throughout about 60 Canadian workplaces.
SIB Corp., working as StoneRidge Insurance coverage Brokers, continued its growth in Alberta with the acquisition of Astro Insurance & Registry Services. Primarily based in Lethbridge, Astro Insurance coverage is a full-service brokerage and registry agent (car, land title and company, amongst others) in operation since 1972. Following the deal, Astro Insurance coverage will proceed to be led by Mark and Cindy Swartout, the brokerage stated in a press release Tuesday.
The deal is SIB’s third transaction of the yr.
Ontario brokerage McDougall Insurance coverage additionally merged with small brokerage All Time Insurance coverage Brokers Inc. The 2-person staff will proceed to work out of their workplace house in Ajax, Ont., with the identical telephone quantity and workplace hours, McDougall stated in a press release saying the merger June 4.
All Time focuses on private traces, McDougall says. In addition they provide worker, life and well being, and business insurance coverage, in line with their web site.
“All Time Insurance coverage Brokers Inc. is a superb match for McDougall Insurance coverage as a result of it strengthens our place in Jap Ontario, complimenting a number of current close by department workplaces,” says CEO Ross McDougall.
Each homeowners of All Time will be part of the McDougall staff as salespeople.
Characteristic picture by iStock.com/pixelfit
