Canadian Underwriter

Canadian Broker Network sells South Western Insurance Group

May 7, 2018   by Staff

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mergersCanadian Broker Network (CBN) announced on Monday that it has sold South Western Insurance Group Limited (SWG) to Three Holdings Inc.

In a press release, CBN said the deal allows its members “to focus their continued efforts on creating innovative insurance solutions for personal and business clients while allowing SWG to align with a group strategically invested in the MGA business segment.”

“This is a good deal for both parties and we look forward to our continued support of SWG,” said CBN chairman Michael Robinson.

By acquiring SWG and its subsidiary Optisure Underwriting Services Inc., Three Holdings has expanded its footprint in Canada. SWG’s existing staff will remain under the leadership of company president John Barclay.

“We are excited to join the Three Holdings group,” Barclay said. “This transaction will allow SWG and Optisure to accelerate their growth goals and expand our available product categories, and I also look forward to my expanded role with Three Holdings.”

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This story was originally published by Canadian Insurance Top Broker.