Westland, Hub’s latest P&C acquisitions
Westland Insurance Group and Hub International Ltd. have added to their property and casualty insurance offerings through recent M&A activity.
Westland Insurance acquired Saskatchewan personal and commercial lines brokerage Insurance Matters Inc., while Hub International acquired Ontario-based cannabis insurance brokerage GJJK Inc.
“This acquisition further solidifies Westland’s position as a prominent player in the Prairies and marks a significant step towards expanding its operations in Saskatchewan,” Westland said in a press release Wednesday, referring to the Insurance Matters transaction.
Insurance Matters is a family owned brokerage with four locations throughout Saskatchewan — Kelvington, Wadena, Wynyard and Invermay. The brokerage offers residential, commercial, farm and auto insurance. “Each of its four locations brings Westland into a new city, giving the brokerage the opportunity to serve more clients throughout the province,” said Westland.
For its part, Hub strengthens its cannabis insurance capabilities with the acquisition of GJJK Inc. Located in Mississauga, Ont., GJJK provides personal and commercial insurance to clients, specializing in the cannabis industry.
Terms of the transaction were not disclosed.
GJJK owner Fady Kamel and his team will join Hub Ontario and help it expand its specialty expertise in this vertical.
Hub said in a release Thursday the acquisition represents a commitment to a space that continues to be underserved by the insurance market.
“By adding additional expertise and experience to our practice group, Fady and his team will continue to propel Hub as the industry leader in risk management, insurance solutions, employee benefits and financial wealth services for the cannabis industry,” said Jay Viri, Hub’s chief sales officer for its Cannabis Specialty Practice.
As in previous years, Westland has already completed a number of transactions in 2023.
Most recently, it bought Hubbard Insurance Group and Assurance Beliveau Insurance Inc. Hubbard Insurance is an Ontario-based, family owned brokerage that has been offering personal, commercial and group benefits/life insurance for 35 years. Assurance Beliveau Insurance is also a family-owned brokerage that has offered personal and commercial insurance for more than three decades, this time to clients in Dieppe, N.B.
In July, Westland acquired Andrew Agencies Ltd., one of the largest full-service insurance and financial services firms in the Prairies. With 22 locations throughout Manitoba, Saskatchewan and Alberta, Andrew Agencies is well-known for its agriculture/farm, small- to medium-sized commercial, homeowners and auto insurance offerings.
Last month, Hub also completed an acquisition with its purchase of Surrey, B.C.-based Golden Ears Insurance Services Ltd. The brokerage, which also has an office in Port Coquitlam, B.C., specializes in commercial transportation, property and automobile fleet.
Feature image by iStock.com/alphaspirit
