January 11, 2016 by Canadian Underwriter
BrokerLink, one of Canada’s largest property and casualty insurance brokerages whose companies are subsidiaries of Intact Financial Corporation, has announced that it has acquired two Ontario insurance companies.
City Insurance Offices Ltd., operating out of Sarnia and Petrolia, Ont., and Philpot & Delgaty Insurance Ltd., announced last week that they will join BrokerLink. City Insurance offers auto, homeowners’, commercial, life, health and group insurance products and retirement plans; Philpot & Delgaty offers personal, commercial and travel insurance.
This acquisition introduces the BrokerLink brand into Sarnia and Petrolia, while building on an established business presence in Thunder Bay, BrokerLink said in a press release.
The terms of the transaction were not disclosed.
In the coming months, both brokerages’ operations will “transition and integrate” under the BrokerLink brand.
“Brokerages have an important role to play in providing customers advice and choice for their insurance,” said Paul Meyer, head of acquisitions at BrokerLink. “With this acquisition, these brokerages will benefit from the back-office support and scale of BrokerLink, while customers continue to be serviced by their local broker who understands their needs.”
The two brokerages and their respective three offices combined bring over 200 years of insurance history to the organization. “Each of these brokerages brings a long history of exceptional service and strong ties to the community,” the release added.
Established in 1991, the BrokerLink companies, which include Canada Brokerlink Inc., Canada Brokerlink (Ontario) Inc. and Macdonald Chisholm Trask Insurance, together constitute one of the largest Canadian p&c insurance brokerage operations with over 100 offices supported by more than 1,000 employees across Ontario, Alberta and Atlantic Canada.
The latest acquisition comes just over a month after BrokerLink said it had acquired another three full-service brokerages operating in Ontario – Northwest Insurance Group Inc., McGregor-Miller Insurance Brokers Ltd. and Gray Insurance Brokers Inc. The three brokerages have a total of nine offices. The terms of the transaction were not disclosed.