Canadian Underwriter

Brokerage M&A roundup: Westland and BrokerTeam announce deals

October 2, 2020   by Greg Meckbach

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Westland Insurance Group and BrokerTeam Group have both announced separate deals this past week.

Westland Insurance Group Ltd. acquired two Alberta brokerages, effective Oct. 1.

Surrey, B.C.-based Westland announced Friday it closed the acquisition of Carstairs, Alta.-based Ironside Insurance Brokers and Picture Butte, Alta.-based G&E Insurance. This adds 19 employees to Westland, which now has more than 1,500 workers in 130 offices in British Columbia, Alberta, Saskatchewan and Manitoba.

Friday’s announcement comes a month after Westland announced four other acquisitions. On Sept. 2, Westland closed the acquisition of King insurance (Winnipeg); Nauroth & Associates (Prince George, B.C.); Hedderick Insurance Agencies (Pincher Creek, Alta.); and Johnson Agencies (Leduc, Calif.).

Ironside Insurance provides residential, auto, life, travel, recreation, farm and commercial insurance. G&E Insurance provides residential, auto, travel, recreation, farm and commercial insurance services.

Meanwhile, on Sept. 28, BrokerTeam Group announced it will be setting up two new insurance brokerages in the last quarter of 2020. Located in Mississauga and Pickering respectively, BrokerZone Insurance and BrokerUnion Insurance will be the eleventh and twelfth brokerages to become a part of BrokerTeam Group’s network, BTG said.

BTG said its CEO, Royle Leung will serve as the principal broker until Vladimir Latinovic of BrokerZone Insurance and Muqit Aziz of BrokerUnion Insurance obtain their principal broker licenses and can take over the helm.


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