Canadian Underwriter

Cornerstone Insurance Brokers purchases KPL Insurance-Rates

February 4, 2016   by Canadian Underwriter

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Multi-line Ontario brokerage Cornerstone Insurance Brokers Ltd. announced earlier this week that it has purchased KPL Insurance-Rates Inc.

The deal closed at the end of business day on Jan. 29

Woodbridge, Ont.-based Cornerstone said in a press release on Tuesday that the transaction, which closed end of business day on Jan. 29, “brings together two exceptional brokerages. Cornerstone Insurance Brokers will be providing the KPL client-base with the same high quality insurance products and customer service that clients have come to expect.”

Liane Wood, president of KPL Insurance-Rates, said that the companies share a common vision for delivering consistent, personalized service to their clients. “I know that KPL Insurance-Rates Inc. and our clients will be in great hands with Cornerstone,” she said.

Related: Cornerstone Insurance Brokers purchases Ontario brokerage Hartwell Thayer

KPL’s digital online approach will complement Cornerstone’s existing locations in the Ontario communities of Woodbridge, Markham, Aurora and Barrie. “We are very pleased with the acquisition, as KPL Insurance-Rates is an excellent fit for Cornerstone,” said Wendy DaSilva, CEO of Cornerstone, in the release. “Our approach to business is very similar and we are looking to expand our digital footprint.”

Cornerstone is a multi-line, full service and privately owned brokerage. The brokerage constructs best of class solutions for small, medium, and large corporations, providing home, auto, and commercial insurance, as well as life and group benefits to clients, and specializes in farm and equine insurance.

KPL Insurance-Rates has been owned and operated by Wood since 2004. Wood has worked in the insurance industry for more than 25 years and has established a proven track record representing individual clients, families and commercial accounts, the release said.