March 4, 2015 by Canadian Underwriter
Totten Insurance Group, a national insurance managing general agency, announced on Wednesday that it has acquired the shares of National Brokerage Services S.C.N. Inc. (NBS), a Montreal-based commercial insurance wholesaler.
The strategic acquisition expands Totten Group’s footprint in the Canadian marketplace and further defines its specialization in underwriting service in key industry segments, the company, which supports over 2,000 independent brokers throughout Canada, said in a statement. The NBS acquisition complements Totten Group’s areas of focus predominately in the business segments of construction, contracting, hospitality, agriculture, restoration and remediation, errors and omission, directors and officers and hot works roofing, among others.
“Totten is excited to have NBS and its specialists join our team. The combined strengths of this partnership will further enhance our capabilities within our centres of excellence that benefit from specialized property and casualty expertise, as well as reinforce Totten Group’s strong position in the market,” noted Heather Masterson, president and CEO of Totten Group (pictured, left), in the statement.
Headquartered in Montreal, NBS has satellite offices in Alberta, Manitoba, Ontario and Quebec, which will remain in full operation and further expand Totten Group’s presence in each province. Guy Boissé, president and founder of NBS (pictured, below), will join Totten Group and continue in his role and report to Masterson.
“For National Brokerage Services, the acquisition will bring us one step closer to our objective of being one of the top wholesalers in Canada,” Boissé said in the statement. “This transaction will enable us to access new and broader markets, along with expertise to serve and grow our client base. Since our early beginnings in Amos, Québec, we have positioned ourselves as one of the most resourceful and effective allies for Canadian retailers and we shall now bring our offerings to an unmatched level.”
Totten Insurance Group Inc., founded in 2002 is one of Hub International Limited (Hub)’s wholesale insurance brokerage operations, providing hard-to-place and niche insurance products. Totten Group is comprised of six divisions: Personal Lines; Commercial Property; Commercial Casualty; Hospitality; Construction and Professional Liability and has offices in Toronto, Oakville, Dartmouth, Winnipeg, Montreal and Vancouver.