March 4, 2013 by Canadian Underwriter
Macdonald Chisholm Trask Insurance, one of the largest independent brokerages in the Atlantic Canada region has purchased Homburg Insurance Company Ltd. through the acquisition of all the outstanding shares from Homburg International Ltd. for an undisclosed amount.
The transaction closed March 1.
Homburg is an insurance brokerage with offices in Halifax and Truro, N.S. where it operates under the name C.D. Armstrong Insurance.
Macdonald Chisholm Trask Insurance, owned by Macdonald Chisholm Incorporated, has offices in numerous communities within Nova Scotia, New Brunswick, and Newfoundland. It currently has offices in both Halifax and Truro, where the company says it will now expand its personal lines presence and commercial business.
“Homburg Insurance has been a very successful company for us,” Jamie Wentzell, CEO, of Homburg International Group noted in a statement. “But as a small independent, the timing was right for us to exit from owning an insurance brokerage. As well, this transaction is in line with our go-forward planning to consolidate our energies and resources in the traditional areas of real estate investment, management and development.”