Canadian Underwriter

Western Financial rings in New Year with acquisition

January 6, 2022   by Jason Contant

Office workstation top view with businesspeople working around M&A

Print this page Share

Western Financial Group began the New Year with the announcement that it has acquired a full-service brokerage located in southern Ontario.

Western Financial’s latest acquisition of Wiesner Insurance Inc. “adds a significant commercial interest in Ontario,” the large brokerage said in a press release Tuesday, when it announced the deal.

Originally founded in 1991 by Jason Wiesner, Wiesner Insurance is an independent brokerage serving customers in and around Brampton, a significant trading area just west of Toronto. Wiesner Insurance offers a full line of commercial, personal and financial services products, with a specialization in commercial products and programs, including employee benefits.

“Under the leadership of Jason Wiesner and Nick Rizzuto, and through the efforts of their energetic sales professionals, Wiesner Insurance has been growing rapidly over the last five years,” Western Financial reported.

Headquartered in High River, Alta., Western Financial has over one million Canadian clients. It offers personal, commercial and life insurance services in more than 200 communities. The brokerage is a subsidiary of Trimont Financial Ltd., which itself is a subsidiary of The Wawanesa Mutual Insurance Company.

Last February (Feb. 23, 2021), Western Financial reported it would take a non-controlling interest in Saint John, N.B.-based brokerage Huestis Insurance Group. The exact terms of the Huestis deal were not disclosed, but Western Financial Group CEO Kenny Nicholls told Canadian Underwriter that Western Financial would get an equity stake of less than 50% in Huestis.

Western Financial Group now has more than 200 sales and service centres and affiliated business interests in nine provinces. Until a few years ago, Western Financial only had brokerages in western Canada.


Feature image by Productions