Rogers Insurance Ltd. announced on Tuesday that it will obtain a minority shares purchase of Megson FitzPatrick Inc.
The partnership between Calgary-based Rogers Insurance and Victoria, B.C.-based Megson FitzPatrick became effective May 5, Rogers Insurance said in a press release on Tuesday.
“This partnership strengthens both organizations tremendously,” Rogers Insurance chief operating officer Bruce Rabik said in the release. “Our market access and capabilities are expanded even further than before.”
Both brokerages are committed to strengthening the independent broker model and believe that they will benefit from the expertise and capabilities of each brokerage – “providing more comprehensive expertise and service offerings to their clients in addition to an expanded network of insurers to work with.”
Jay Tuson, CEO of Megson FitzPatrick, said that the organization has “long been searching for a brokerage model that provides the strength of scale, a willingness to invest in the future, a commitment to building a great culture for our team and the ability to provide competitive perpetuation solutions. Rogers Insurance has allowed us to customize a partnership that I believe is unique in the market and speaks to addressing many of the challenges small to medium size brokers are facing today. We are proud to partner with Rogers Insurance and look forward to the prosperity of both brokerages moving forward.”
Rogers Insurance has nine offices across the country and more than 400 employees. As one of the largest independent brokerages in Canada, Rogers Insurance provides commercial insurance, home and auto insurance, life and benefits, and high net worth insurance services. It is employee-owned and a member of the Canadian Broker Network and Intersure, giving it affiliated offices across Canada, the United States and Mexico.
Megson FitzPatrick Insurance has six locations, including one in Vancouver, and over 100 employees. The brokerage, which has several insurance programs that are distributed through British Columbia, provides commercial, home and personal, auto, life and benefits insurance.