June 8, 2021 by Jason Contant
Westland Insurance Group Ltd. has closed two new acquisitions in Saskatchewan, both in locations where the large brokerage didn’t have a presence before.
The brokerage announced Monday it had closed the acquisitions of HK Insurance in Regina and Smith Agencies in Melfort, effective June 1. “Regina and Melfort are both new entries for Westland Insurance and support Westland’s expansion strategy to serve more communities across Canada,” Westland said in a press release.
Both acquired brokerages provide auto, residential, commercial, agriculture and specialty insurance services. Established in 2001, HK Insurance brings 14 new team members to Westland; Smith Agencies started in 1976 and adds nine new team members.
Westland now has more than 1,900 employees and 170 locations across the country, including a presence in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec and Nova Scotia.
Westland has already made several acquisitions of brokerages in Saskatchewan this year. Effective May 1, Westland closed three acquisitions in Alberta and Saskatchewan. Among them, Moon Insurance provides services in Saskatoon, Radisson, Colonsay, and Vanscoy through different company brands such as Radmont, Chaben McPherson, Wright, and Mooney Agencies. It offers residential, auto, travel, farm and commercial insurance.
Westland closed the acquisition of AGI Insurance in Saskatoon on Feb. 23. In addition, at the beginning of February, Westland completed its acquisition of Moose Jaw-based Flogizan Insurance. Family-owned AGI Insurance and Flogizan Insurance offer residential, auto, travel, farm and commercial insurance services.
Jamie Lyons, Westland’s president and chief operating officer, told Canadian Underwriter earlier that Westland plans to continue exploring opportunities in western Canada. The company would also consider deals moving the brokerage in a more easterly direction.
The brokerage first entered Saskatchewan in 2019. More recently, it moved into Manitoba, Ontario, Quebec and Nova Scotia. “Now that we’ve got operations in new provinces, we can really look at future acquisition opportunities or conversations with brokers who are thinking about selling their businesses with some boots on the ground in those markets,” Lyons said in January 2021.
Feature image via iStock.com/Gerasimov174