Thunder Bay, Ont.-based brokerage Smith & Associates Insurance has announced its consolidation with The Standard Insurance Brokers, effective Tuesday.
This consolidation will allow both organizations to offer a broader scope of products to clients, enhance their long established relationships with current insurance partners and pursue new technology and digital solutions, Smith & Associates said in a press release on Tuesday.
The Standard Insurance Brokers, which offers home, auto, business/commercial, recreational, travel and resort insurance, as well as financial services, has been serving northwestern Ontario since 1897. It has eight locations throughout central Canada.
“They are a highly respected regional broker that are well positioned for the future of our industry and their 120-year longevity is due to continually finding new and innovative ways to provide exceptional service,” the release said. “They share many of our same core values and we look forward to a long and prosperous future as part of this group.”
Smith & Associates, which offers personal and commercial insurance, will continue to operate as its own entity to provide continuity for both staff and clients, while providing the same high level of service clients have come to expect since its doors opened first in 1946, the release added.
Both organizations share a passion for community involvement, Smith & Associates noted, including support for charitable causes, non-profit organizations, amateur sports and other community causes.
“Our commitment to our staff, our valued clients and our longstanding relationship with our business partners were critical factors in our selection of a succession plan,” said Greg Jarvis, CEO of Smith & Associates, in the release. “Given the rapid and dramatic changes in the insurance industry and after lengthy consideration and deliberation, we felt that our clients, staff and community would be best served by consolidating with a large, regionally owned brokerage.”
Gord McCool, CEO of The Standard Insurance Brokers, added that as one of the largest locally owned regional brokers fully committed to the independent broker channel in northwestern Ontario, Manitoba and Saskatchewan, “we have recognized the importance of growth and scale in order to provide the technology, customer service and product offering that our clients require now and in the future.”