Canadian insurance broker Westland Insurance has announced the acquisition of an independent intermediary Hyndman Insurance Group.
The financial terms of the transaction were not disclosed.
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Hyndman Insurance Group, which comprises Hyndman & Company, Hickey & Hyndman and Sears Insurance, specialises in business insurance offerings to all types of businesses.
The acquisition, which is Westland Insurance’s 26th in the last 12 months, marks its entry into Prince Edward Island and New Brunswick.
With a team of 100 employees, Hyndman Insurance Group operates in 13 locations.
Westland president and chief operating officer Jamie Lyons said: “Expanding in Atlantic Canada has been an area of strategic importance at Westland for some time, and we are thrilled to have found such an incredible partner in the Hyndman Insurance Group.
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By GlobalData“As a family-owned and operated brokerage, we understand the value of honouring the impressive legacy that the Hyndman team has built in over 150 years of being in operation.”
Hyndman Insurance Group president and CEO Gordie Walsh said: “By joining the Westland team, our clients will benefit from expanded access to products and services, as well as the benefits a national platform brings.
“Across the Hyndman Insurance Group, we’re known for our long history as one of the oldest brokerages in Atlantic Canada and for our commitment to excellent client experiences. This is a value we share with Westland and one of the reasons we moved forward with this acquisition.”
With approximately 200 people and 19 locations following this acquisition, Westland Insurance is now claimed to be among the leading insurance brokers in Atlantic Canada.
In October this year, Westland Insurance bought multiple property and casualty brokerages including Arrow Insurance Agency, Emsland & Associates Insurance, and IBMG Canada.
