McDougall Insurance scoops up Alberta firm in newest M&A deal

McDougall Insurance scoops up Alberta firm in newest M&A deal | Insurance Business Canada

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McDougall Insurance scoops up Alberta firm in newest M&A deal

The latest effort in the brokerage’s growth plan

Insurance News

By
David Saric

McDougall Insurance Brokers Ltd. announced today that it has combined with MHK Insurance Inc., effective immediately.

“With nearly 80 full-time employees and a history going back 110 years, MHK is a perfect fit to strengthen our Alberta presence and join with our eight Drayden Insurance offices,” said Ross McDougall, McDougall Insurance’s CEO.

“We continue to grow in Alberta and now have approximately 200 employees in the province, and we feel very fortunate to have been given the opportunity to partner with such a well-respected, customer-oriented, and community-minded brokerage.”

The merger will see MHK’s executive team, which includes Jeff Homynyk, president and CEO; Jill Repchuk, COO and Jana Lumsden, CFO, along with other leadership personnel guide MHK Insurance going forward.

“In order to even consider such a deal, there were many factors that were important to me and to our team,” Homynyk said.

“Our alignment in terms of values, culture, way of doing business, relationships with our staff, our clients, our insurers, and our community, and continued operational independence led to my decision that McDougall Insurance was the right choice in every way that mattered.”

This move is the latest in McDougall Insurance’s continued commitment to its growth initiatives, while expanding its service and product offerings to customers across Canada.

“The synergies we’ll no doubt realize in the years to come are truly exciting for all of us,” confirms Homynyk.

This latest merger comes nearly a month after Drayden Insurance, a division of McDougall, acquired Darson Insurance Services.

“This acquisition supports us in our journey of growth and reinforces our dedication to providing top-notch services to our clients,” McDougall said.

In November, McDougall Insurance also acquired MB Kouri Insurance Brokers Ltd., a brokerage that specializes in campgrounds, resorts, trailers, and mobile homes in the Eastern Ontario area.