Operating out of Peterborough, Ont., Monkman Insurance and its 22 employees join Belleville, Ont.-headquartered McDougall Insurance to form an independent broker with 30 offices in eastern Ontario and the Ottawa Valley, McDougall said in a press release. The combined business will now include 330 employees, with over $250 million in property casualty premium and a “strong and rapidly growing financial services division,” the release said.
All Monkman Insurance employees will remain with the organization and their branch office will continue. The brokerage’s management team, including current owners Eric Monkman and Dave Smith, will continue with the organization after the merger.
“Monkman Grace Johnston Insurance is an excellent fit with the McDougall organization, which is split with both commercial and personal lines, as well as financial services,” the release suggested. “The merger will greatly enhance our reach in eastern Ontario as it adds a new location where we have not previously been active.”
McDougall Insurance’s offerings include auto/car, property and home, recreational, life and financial, and business/commercial insurance. Monkman Insurance offers personal, commercial, life insurance and financial services, and group insurance.
In January 2016, McDougall Insurance merged with Upper Canada Commercial Insurance Group. As a predominately commercial lines brokerage operating out of the Ontario cities of Kingston, Brockville and Cornwall, Upper Canada Commercial is an “excellent fit” with the McDougall organization, McDougall said in a statement at the time.