March 6, 2014 by Canadian Underwriter
Beacon Underwriting, an insurance managing general agency, announced Wednesday that it has acquired the business of Can-Sure Underwriting, Ltd., a Vancouver-based MGA. Terms of the deal were not disclosed.
The Can-Sure operations will add a new office to Beacon’s footprint in Vancouver, Beacon said in a press release.
Rick Roberts will now assume the role of Beacon’s chairman and Jeff Hart will become Beacon’s president as a result of the acquisition.
Founded in 2003, Can-Sure offers a range of MGA products, such as commercial property and liability risks, to the broker community across Western Canada. The combination of the two firms will further expand their offerings to insurance brokers throughout Canada and the Can-Sure brand will be retained, Beacon said.
“We are thrilled to welcome the talented team from Can-Sure,” Rick Roberts said in the press release. “By combining the forces of Beacon and Can-Sure, we will offer our brokers an outstanding array of products supported by strong technical expertise that will further help them develop and grow their businesses.”
“I am extremely pleased for our team and our brokers that we have been able to align ourselves with the Beacon team,” Jeff Hart added.
“We have the utmost respect for their business model and acumen and really look forward to growing together in the future. It was key for me to make sure I found the right home for my staff and our brokers and with Beacon we have absolutely secured that.”