July 9, 2018 by David Gambrill
Brokerlink, one of Canada’s largest property and casualty insurance brokerages, has expanded its presence in Ontario with the acquisition of three new brokerages.
Ontario brokerages Adriatic Insurance Brokers Ltd., Magermans & Raes Insurance Brokers Ltd., and Insurance Protection Group Inc. have all announced they will be joining BrokerLink. Terms of the transactions were not disclosed.
The move will expand Brokerlink’s offices into seven Ontario locations — Sarnia, Chatham, Petrolia, Woodbridge, Cobourg, Norwood, and Peterborough.
Each of the brokerages involved in the deal offered separate reasons for hitching their wagons to Brokerlink. Reputation, local experts, and emphasis on customer service were among the key reasons cited by each of the acquired brokerages.
Reputation was important to Adriatic Insurance Brokers Ltd., a Woodbridge, Ont.-based brokerage that has been in business since 1942. The company has a wide variety of insurance offerings including commercial, personal, and financial insurance.
“We’re known for our commercial insurance expertise,” said Adriatic President Don Bowden. “We wanted to become part of a company which could carry on our positive reputation and where our team could enhance their skills. Broker Link offered both; we’re confident our decision will have long‐term benefits for our employees and customers.”
BrokerLink’s “local” approach was key for Magermans & Raes, a family-based business with operations in Sarnia, Chatham, and Petrolia. In addition to personal and commercial insurance, the brokerage also offers special event and travel insurance.
“We have local offices with local insurance experts, and it enriches the service we provide,” says President Tony Magermans. “We understand insurance, our customers, and the community, and BrokerLink takes the same approach. Customers are served at local offices by experts who are also community members. It was a natural fit for us to join BrokerLink.”
For Insurance Protection Group Inc. President Dwayne Day, “providing high‐quality customer service has always been a priority for us. We wanted to join a company that took this as seriously as we do. Our customers will benefit from the positive relationships BrokerLink has developed with insurance providers and the company’s commitment to tailoring insurance to their needs.”
Insurance Protection Group Inc. serves customers in three Ontario locations — Cobourg, Norwood and Peterborough. With roots tracing back to the late 1800s, the company provides personal and commercial insurance needs.