Canadian insurance intermediary Westland Insurance Group has announced the acquisition of multiple property and casualty brokerages in a bid to expand business operations.
Westland Insurance did not disclose the financial value of the deal.
The acquisition, which includes Arrow Insurance Agency, Emsland & Associates Insurance, and IBMG Canada is effective from 1 October 2022.
Of the three entities, Arrow Insurance Agency, and Emsland & Associates Insurance operate in British Columbia.
IBMG Canada, which is based in Toronto, expands Westland’s presence in the Greater Toronto area.
Westland president & COO Jamie Lyons said: “We are thrilled to welcome Arrow Insurance, Emsland & Associates, and IBMG Canada to the Westland team. As we continue our growth journey across Canada, we feel privileged to join forces with these three outstanding brokerages, each of whom have tremendous leadership and passionate employees.
“We are looking forward to working with their respective teams to continue serving their communities and make a difference in the lives of their clients.”
With C$2.5bn in premiums, Westland’s brokers are engaged in offering services across commercial, personal, employee benefits, farm, and speciality insurance.
Founded in 1980, the Canadian broker said it continues to invest in and grow its business in the country, both organically and through strategic acquisitions.
Last month, Westland Insurance acquired Montridge Advisory Group and BST Insurance to boost its consulting and P&C practices. The acquisition of BST Insurance Brokers marked Westland’s entry into Pickering.