Canadian Underwriter

Alpine acquires Calgary-based brokerage

May 26, 2005   by Canadian Underwriter

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Regional broker network consolidator Alpine Insurance & Financial Inc. has acquired Benefit Insurance Ltd., a Calgary-based brokerage. The terms of the deal have not been disclosed.
Benefit Insurance will become the fifth branch-office of the Alpine network, and serve as the company’s future head-office. Alpine operates from five Alberta locations of Canmore, Edmonton, Lethbridge and Red Deer. The broker plans to expand its business beyond the traditional property and casualty arena to include distribution of other financial services products, a company statement says. ING Canada Inc. has been identified as the broker’s "strategic partner" in its plans to venture outside of p&c insurance. "Our vision is to create an Alberta-based network of insurance brokerages and financial service providers that will focus on the economic heartland of Alberta, taking advantage of the deep roots these brokerages have with local businesses," says Alpine president Ken Hughes.

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