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The latest M&A news from BFL, NFP and Hub


December 11, 2020   by Jason Contant


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A year-and-a-half after large commercial brokerage BFL Canada acquired Summit Insurance Brokers, the smaller British Columbia-based brokerage has officially been rebranded to BFL Canada Insurance Services Inc.

“As of now, all the operations led in Central and Northern British Columbia will be conducted under BFL Canada’s name and from our Prince George office,” BFL said in a press release Thursday.

Hugh Delwo, former president and CEO at Summit, is assuming the role of managing vice president for BFL’s Prince George office, BFL said. The Prince George team is also growing and has recently welcomed Paul Vezina, vice president, client executive, and Danica Peacock, client service manager, as new members of the company.

Founded in the late 1990s, Summit has brought expertise in industrial, commercial and farm risks to BFL Canada since the acquisition in May 2019. “I am very glad to officially welcome these skilled and experienced professionals to the BFL Canada family,” said Barry Lorenzetti, president, CEO and founder of BFL Canada.

Another insurance brokerage, NFP, said Thursday it had acquired Ogilvy Insurance in a transaction that closed Nov. 24. Based in Montreal with offices in Toronto and Oakville, Ont., Ogilvy Insurance offers commercial and personal lines P&C insurance, as well as group benefits and pensions, and life insurance and investments.

iStock.com/utah778

“Ogilvy Insurance expands NFP’s capabilities and expertise predominantly through travel and performance watercraft insurance offerings, as well as specific coverages for the moving and roofing industries,” NFP said in a release. “With the additional of Ogilvy Insurance, NFP now has one of the largest moving and storage programs in Canada.”

David Ogilvy will join NFP as a senior vice president, reporting to managing director Domenic Tesone.

John Belya, chief operating officer of NFP in Canada, said that the expertise Ogilvy Insurance brings will complement NFP’s existing offerings in Canada. “There’s an opportunity to scale our presence in Quebec to create a consolidated full-service offering that provides clients with employee benefits, commercial lines and personal lines P&C solutions through one collaborative organization.”

Hub International also announced a pair of recent acquisitions. On Dec. 2, Hub reported it had acquired Seymour Alper Inc., an insurance and risk management firm located in Mount Royal, Que. Seymour Alper provides solutions and expertise in various industries, specializing in apparel/textiles, retail, real estate and manufacturing, which complements and strengthens Hub’s existing specialty practices capabilities.

Elliott Alper (president and CEO), Steven Lach (executive vice president), Karla Alper Lach (executive vice president) and their team will join Hub Quebec and report to Stephen Blais, president and CEO of Hub International Quebec Limited.

On Dec. 7, Hub announced the acquisition of another brokerage, Prince Albert Insurance Limited. Located in Prince Albert, Sask., the brokerage is a full-service independent brokerage that provides personal, commercial, farm and specialty products insurance, which will complement and strengthen Hub’s existing capabilities.

Ron Wesolowski, vice president and director at Prince Albert Insurance, will join Hub International Manitoba Limited. He will report to Keith Jordan, president and CEO of the region.

 

Feature image by iStock.com/guvendemir


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