Four Canadian brokerages swept up in latest M&A deals
Western Canada is the target for the latest rounds of acquisitions from large Canadian P&C brokerages.
Intact Financial Corporation subsidiary BrokerLink and Westland Insurance Group announced recent acquisitions in northern and southern Alberta, Saskatchewan, and Manitoba.
Westland Insurance Group also continues to grow with the acquisition of two new brokerages: Saskatchewan-based Booth Burnett Insurance and Savante Insurance in Manitoba.
BrokerLink has acquired Tailor Made Insurance Services Ltd. and Maple Insurance Inc.
Tailor Made Insurance, an independent brokerage, has been offering personal and business insurance to clients in northern Alberta since 1993, with a specialization in farm insurance products. (In 2019, BrokerLink acquired JDR Insurance – Athabasca, a division of Tailor Made Insurance.)
“When we chose to sell our Athabasca division to BrokerLink in 2019, I had a strong belief that our shared values and commitment to outstanding customer service would allow for a fluid transition for our employees and customers, and I was right,” says Greg Knott, president of Tailor Made Insurance. “BrokerLink goes above and beyond to help people, which is why I trust they are a great fit for our Gibbons, St. Albert and Sherwood Park locations, too.”
BrokerLink’s second acquisition this month, Maple Insurance, brings another relatively new brokerage into its ranks. Maple Insurance has been serving the communities of Calgary and Edmonton since 2010 with a selection of products and services for home, auto and commercial insurance clients.
BrokerLink president Joe D’Annunzio says the acquisition of Tailor Made Insurance and Maple Insurance allows the larger brokerage to extend its services to more Alberta customers in Calgary, Edmonton and Sherwood Park, and offer expertise in the communities of St. Albert and Gibbons.
In the last year, BrokerLink has welcomed several Alberta-based brokerages to its organization, including Gold Key Insurance Ltd., Lakeside Insurance Ltd., Blue Circle Insurance Ltd., and most recently, Bow Valley Insurance Services (2004) Ltd.
Westland’s acquisitions are aimed at bolstering the brokerage’s presence in western Canada.
“The Prairies continue to be a critical part of Westland’s national strategy, especially given our ambition to serve more Canadians coast-to-coast,” says Westland’s president and chief operating officer Jamie Lyons. “Both Booth Burnett and Savante help deepen our presence in key Western Canadian cities and communities, including Saskatoon, Winnipeg, and Steinbach, [Man.].”
Booth Burnett offers home, auto and commercial lines, with commercial specialization in transportation, property, liability, bonding and credit insurance. Savante Insurance offers home, auto, commercial, travel and farm insurance.
Like BrokerLink, Westland has completed a number of acquisitions this year, including Markham, Ont.-based Campbell, Roy & Eldridge, Bunnell Hitchon Insurance Brokers in Brantford and Milton, Ont., and Calgary-based Rigby Insurance.
Feature image by iStock.com/SB
