Canadian Underwriter

New company formed as brokerages merge

December 23, 2004   by Canadian Underwriter

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The merger of Toronto’s Jones DesLauriers & Firman (JDF) and Insurance Management Inc. (IMI) will create one of Canada’s largest privately-held insurance brokerages.
The two brokerages announced this week that they will join forces to create a new incorporated company writing about $150 million in annual premiums, specializing in transportation, construction/builders risk, manufacturing, property management and knowledge-based technology industries.
Ownership will be comprised of executives from both brokerages, with each company operating on its own but moving toward progressive synergies. JDF’s Robert Jones will lead the integration, and says the move will benefit both clients and employees by creating a stronger, more diversified organization. “Rick DesLauriers and I had been looking for an opportunity to accelerate growth and we found a perfect fit in IMI,” he says. “Two already excellent companies are joining forces. The scope of our combined expertise is breathtaking and we are confident that all stakeholders in this merger will benefit from the strength of the new organization.”