Mutual group makes local broker acquisition
Mutual insurer group Collectivfide announced it has acquired a majority stake in R.E. Miner Insurance Brokers Limited.
Formed in 2019, Collectivfide’s shareholders represent mutual insurance companies across Canada. The acquisition, announced Sept. 1, marked Collectivfide’s 10th overall.
R.E. Miner is a full-service, independent brokerage serving the Comber area (about 40 kilometres East of Windsor, Ontario) since its founding in 1970. The brokerage offers home, auto, farm and commercial coverage.
“Their strong roots in the community and commitment and involvement to the Comber area were crucial points that aligned this partnership so well with both Collectivfide Insurance Group and R.E. Miner Insurance Limited,” Collectivfide wrote in a press release.
“The staff at the brokerage have been involved in many local organizations, including Comber Minor Baseball, Friends of Greater Comber, the Comber Fair, Tilbury Storm Soccer and the Tilbury Minor Hockey Club.”
Collectivfide president and CEO, Tony Ngo commented on the acquisition: “R.E. Miner is another great example of passing on family legacy and values from generation to generation and ensuring our rural brokerages continue to thrive in their communities.
“These family values align with those of Collectivfide and our Mutual partners, which made this a perfect fit for us.”
The mutual insurance group was founded to provide competitive advantages for locally owned insurance brokers, the press release said. Collectivfide supports brokers in underwriting, finance, human resources, data, technology and marketing, while letting their broker partners maintain their names and autonomy.
“I purposefully chose Collectivfide as I am a firm supporter of the mutual model and their values,” R.E. Miner’s owner and principal broker Jill Miner said.
“Collectivfide allows the brokerages they invest in to continue operating as they are with the same name, same location and same staff. I can continue working until I’m ready to retire and know that when I do, my staff and clients will be well taken care of in the way they are used to.”
Following this latest acquisition, Collectivfide has 10 broker partners and sixteen office locations across Ontario.
Feature image by iStock.com/bunditinay
