February 5, 2020 by Jason Contant
BrokerLink, one of the largest property and casualty insurance brokerages in Canada, and a subsidiary of Intact Financial Corporation, has acquired Nova Scotia brokerage Major Brothers Limited.
Located in Halifax and Dartmouth, Major Brothers has been providing personal and commercial insurance to the community since 1922. Its offerings include business, home, auto, motorcycle and classic vehicles coverage.
Terms of the transaction were not disclosed.
Major Brothers’ employees will continue to serve customers as part of the BrokerLink team. The president of Major Brothers, Roger Ghiz, will assist BrokerLink during the transition process. Ghiz purchased the brokerage in 1982.
Joe D’Annunzio, president of BrokerLink and its MCT Insurance division, said in a press release that BrokerLink already serves a large number of communities in Atlantic Canada “and we will continue to actively pursue acquisitions in the areas.”
The deal comes one day after Hub International announced its latest employee benefits firm acquisition. On Tuesday, Hub said it had acquired Edmonton-based Benefex Consulting Inc. The employee benefits and retirement consulting firm specializes in group insurance programs, retirement, wellness solutions and special risk coverage that address clients’ unique needs. Benefex currently serves clients in British Columbia, Alberta, Saskatchewan, Ontario, Yukon and Northwest Territories.
Wade Cox, Kyle Stinson and Brad Seib, principals at Benefex, will join Hub International Insurance Brokers, a division of Hub International Canada West ULC (Hub Canada West). In addition to leading the Benefex team under Hub Canada West, the principals will continue to provide in-depth consulting services to clients.
Terms of the deal were not disclosed.
Other acquisitions this week include Western Financial Group’s acquisition of Orr & Associates, an independent brokerage in southwestern Ontario. Orr & Associates has branch locations in King City and Schomberg, Ont. and has a number of senior professionals in the industry; several have between 10 and 40 years of experience in the industry. Its staff includes two former Insurance Broker Association of Canada presidents, Ken Orr and Keith Wilson.
Also on Tuesday, Aon plc reported its acquisition of Cytelligence, a Canadian-based cyber security firm with deep expertise in cyber incident response and digital forensic investigations. Cytelligence has offices in Toronto, Ottawa, New York City, San Francisco and Miami. Daniel Tobok, CEO of Cytelligence, will join Aon as the Canadian president of Aon’s Cyber Solutions.