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May 27, 2022

Westland buys two insurers to bolster Ontario presence

Canadian property and casualty insurer Westland Insurance Group has announced the acquisition of MCR Insurance and Walter Roberts Insurance.

Westland did not disclose the financial terms of the transaction.

Both the acquired firms are located in Ontario, which is a region of strategic importance for Westland.

MCR Insurance specialises in high value home, cottage, auto and commercial lines of business, with a focus on communities north of the Greater Toronto Area and Muskoka.

Walter Roberts, on the other hand, brings expertise in E&O, standard, niche, and high value products across personal and commercial lines.

Westland president & COO Jamie Lyons said: “Each of these acquisitions adds significant depth and strength to our rapidly expanding footprint in the Ontario market, which remains key to our national strategy.”

In the last two years, the insurer is said to have recorded significant growth in Ontario.

Westland plans to continue its expansion in the region to carter to new and existing customers with a focus on commercial insurance market.

Westland executive vice president of commercial and eastern Canada operations Donna Barclay said: “Ontario’s importance to the Canadian insurance marketplace makes it a key part of our national strategy.

“The scale and diverse nature of the insurance business in Ontario is attractive as we look to serve more Canadians coast to coast with more product options and advisory based solutions.”

Earlier this year, Westland secured an additional $200m commitment from Blackstone Credit.

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