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Co-operators General Insurance Company acquires Carleton Insurance Brokers Ltd.


August 13, 2015   by Canadian Underwriter


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Co-operators General Insurance Company is strengthening its presence in the Ottawa area with the announcement Thursday that its wholly owned subsidiary has purchased Carleton Insurance Brokers Ltd. for an undisclosed amount.

Co-operators is sixth among private companies (excluding life and purely A&S companies) in terms of net premiums written

“We’re pleased to be strengthening our presence and growing our agency distribution system in Ottawa and across the country, which is part of our growth strategy,” Kathy Bardswick, president and CEO of The Co-operators, says in a statement. “Our new clients will benefit from the wide range of insurance and financial products, as well as the expertise, offered by Co-operators advisors.” Current clients of Carleton Insurance Brokers will be notified of the change in ownership and their existing insurance coverage will remain in effect with no changes to their premiums or coverage for the current term of their policies, notes the statement from The Co-operators. As current policies expire, clients will be offered comparable policies from The Co-operators.

Carleton Insurance Brokers’ website notes the brokerage offers life, mortgage, disability, health, critical illness, auto/home/tenants and commercial insurance. The Co-operators, through its group of companies, offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. It has more than $40 billion in assets under administration.

Related: The Co-operators acquires majority interest in The Edge Benefits

The 2015 edition of Canadian Underwriter’s Statistical Issue lists Co-operators General Insurance Company as sixth among private companies (excluding life and purely A&S companies) in terms of net premiums written (NPW). With about $2.2 billion NPW in 2014 – up 5.72% from a little less than $2.1 billion NPW in 2013 – The Co-operators is listed as having 4.95% of the market.

The Co-operators has recently announced a number of other acquisitions or partnerships. This past May, the co-operative reported it had purchased a majority interest in The Edge Benefits, an Ontario-based company that provides self-employed and small business owners with lifestyle protection and complex living benefits solutions.

In April, The Co-operators and Sunshine Coast Credit Union announced they have entered into an arrangement to provide clients and members with more convenient access to each organization’s products, services and expertise.

Related: The Co-operators and Sunshine Coast Credit Union announce collaboration

Also that month, The Co-operators reported it had acquired the Premier group of companies – whose firms include Premier Marine Insurance Managers Group Inc., Premier Canada Assurance Managers Ltd. and Pacific Coast E&S – which is a full-service managing underwriting agency with five offices in Canada and the United States. Premier administers more than 80,000 insurance policies and handles product development in-house, as well as distributes its extensive product offerings through 4,000 broker locations.

Related: The Co-operators acquires Premier group of companies

“We are committed to preserving Premier’s nature as a managing underwriting agency, benefiting from strong relationships with domestic and international underwriting partners,” Bardswick said at the time.

And in January, Allianz Worldwide Partners and The Co-operators Group announced completion of the merger of their respective Canadian travel insurance companies, and The Co-operators reported that month its wholly owned subsidiary had bought Bill Hartley Insurance Services Ltd. in Victoria, which offers home, auto, farm and commercial insurance. Again, as current policies expire, clients will be offered comparable policies from The Co-operators.


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