Canada-based independent brokerage Westland Insurance has expanded its presence in the country by purchasing Sigurdson Financial Benefits.
Sigurdson is a benefits brokerage company headquartered in Winnipeg, Manitoba.
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The company has been providing its clients with financial planning, group benefits, and life and living benefits insurance for more than 50 years.
The latest deal helps Westland Insurance to further grow its benefits insurance business and strengthens its place in Canada’s full-service commercial brokerage space.
Financial terms of the deal were not revealed.
Westland Insurance president and CEO Jamie Lyons said: “With this top-notch brokerage joining our team, we’re able to expand our offerings and deepen our national capabilities in the group benefits space.
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By GlobalData“Their expertise and focus on exceptional client service align perfectly with our vision to be Canada’s favourite broker, especially as we continue to grow in the financial broader services segment.”
Westland Insurance is said to currently trade more than C$3bn ($2.2bn) of premiums.
The company’s brokers offer expertise and advisory-related services across diverse sectors, including commercial, personal, employee benefits, farm and speciality insurance.
Earlier this year, Ontario Teachers’ Pension Plan-owned BroadStreet Partners made an undisclosed investment in Westland Insurance.
With the investment, Westland Insurance aims to support its expansion plan across Canada.
This January, Westland Insurance announced the acquisition of RiskTech Insurance Services as part of its expansion effort.
Based in Edmonton, Alberta, Canada, RiskTech Insurance Services is a brokerage firm that provides large and mid-market commercial clients with specialised capabilities and technical expertise.
