August 23, 2021 by Plus Underwriting
VANCOUVER, BC, AUGUST 23, 2021/insPRESS/ – Troy Moreira and Alex Meier announce today that Mar Nova Holdings (controlled by Moreira) has acquired 100% of PLUS Underwriting Managers Ltd. PLUS is a Managing Underwriting Agency (MUA) headquartered in Vancouver BC.
“After a short break from the insurance industry, I am thrilled to announce my return to the specialty managing underwriting agency arena in Canada. PLUS will serve as an excellent foundation upon which to grow a multi-line specialist underwriting agency to serve brokerages across Canada” says Moreira. “I welcome the existing PLUS team and look forward to growing our product offering and team of experts across Canada”.
“I am very pleased to complete this transaction with Troy. I am confident it will give the current PLUS team an excellent opportunity to grow their underwriting skills as well as provide the PLUS broker distribution partners more specialty products and improved service” says Meier. “As CEO of the Axis Insurance Group, the amalgamation of several of western Canada’s best-in-class insurance brokerages, I was already familiar with Troy and his commitment to product ingenuity and service. I am looking forward to watching the PLUS platform grow and will be a supporting broker distribution partner for Troy and his team.”
Moreira adds “My past broker distribution partners and insurer partners around the world had expressed to me that, due to all the recent industry consolidation, there is now a large need in the market for a truly independent and entrepreneur operated MUA. So, here I am back at the helm and already assembling a new team. My team and I have big plans for PLUS that will benefit broker distribution in Canada and our underwriting partners – we are very excited for the future”.
About Troy Moreira:
Troy Moreira began his insurance career in 1996. As CEO (and a principal owner) of one of North America’s leading Managing Underwriting Agencies, Troy built his prior underwriting agency from a single-line marine boutique with a handful of staff into a multi-line specialist underwriting agency with over 100 staff with key strengths in: construction, professional liability, environmental lines, marine, specialty casualty, medical malpractice, and specialty personal lines products. Troy is well-known by brokerages across Canada through his specialty insurance education seminars which he served as principal speaker/instructor, connecting with over 3,000 plus brokers each year between 2004 and 2019.
About PLUS Underwriting Managers Ltd.:
Established in 2010, PLUS is a Managing Underwriting Agency licensed across Canada (excluding Quebec) and distributes property & casualty insurance products through approximately 200 brokerage partners.
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About Axis Insurance Group:
Axis Insurance Group is the amalgamation of several best-in-class insurance brokerages; with the first brokerage founded in 1928. Excelling in both commercial and personal insurance, Axis is headquartered in Vancouver, BC with offices throughout the province and partner brokerages in Ontario, Quebec, and Atlantic Canada.
The Axis Insurance Group includes Axis Insurance Managers, Metrix Professional Insurance Brokers, Shaw Sabey & Associates, Otto & Associates, Cypress Insurance, and LMG Insurance. Core practice and risk management areas are Mining, Life Sciences & Technology, Professional & Financial Services, Manufacturing, Construction & Real Estate, Non-Profit, Retail & Hospitality, Agribusiness, Specialty Programs, Personal Lines & Private Client.
For more information on PLUS Underwriting Managers please contact Troy Moreira at email@example.com or 604.551.4246