October 3, 2018 by Greg Meckbach
Anderson McTague & Associates Ltd., a New Brunswick-based coverholder in the Lloyd’s market, has been acquired by Toronto-based Totten Insurance Group Inc., a subsidiary of Hub International Ltd.
Totten Insurance is a managing general agency founded in 2002 by H. Ross Totten, the firm’s CEO until 2012.
Anderson McTague has offices in Saint John, N.B. and St. John’s, Nfld.
The terms of the acquisition were not disclosed. As a result of the acquisition, announced Wednesday, Anderson McTague president Chuck McTague will join Totten.
Anderson McTague places both personal and commercial insurance. Target markets include properties that are vacant for long periods of time, restaurants that serve liquor, hairdressers, roofing contractors, welding contractors, health clubs, spas, fertilizer manufacturers and trucking, among others.
“Totten plans to leverage Anderson McTague’s experience with Lloyds and their detailed knowledge of Atlantic Canada to further support its broker partners,” Totten said Oct. 3 in a release.
Totten places property and liability insurance, including professional liability and pollution liability. Its target markets include casinos, hot dog carts, special events, auto body shops and companies holding fuel storage tanks. Totten also places homeowners insurance for high-net-worth individuals.
In addition to Toronto, Totten also has offices in Vancouver, Winnipeg, Halifax, Montreal, Dundas, Ont. and Oakville, Ont.