Canadian insurance coverage dealer Westland Insurance coverage has introduced the acquisition of an unbiased middleman Hyndman Insurance coverage Group.
The monetary phrases of the transaction weren’t disclosed.
Hyndman Insurance coverage Group, which includes Hyndman & Firm, Hickey & Hyndman and Sears Insurance coverage, specialises in enterprise insurance coverage choices to all sorts of companies.
The acquisition, which is Westland Insurance coverage ’s twenty sixth within the final 12 months, marks its entry into Prince Edward Island and New Brunswick.
With a staff of 100 staff, Hyndman Insurance coverage Group operates in 13 places.
Westland president and chief working officer Jamie Lyons stated: “Increasing in Atlantic Canada has been an space of strategic significance at Westland for a while, and we’re thrilled to have discovered such an unimaginable companion within the Hyndman Insurance coverage Group.
“As a family-owned and operated brokerage, we perceive the worth of honouring the spectacular legacy that the Hyndman staff has inbuilt over 150 years of being in operation.”
Hyndman Insurance coverage Group president and CEO Gordie Walsh stated: “By becoming a member of the Westland staff, our purchasers will profit from expanded entry to services, in addition to the advantages a nationwide platform brings.
“Throughout the Hyndman Insurance coverage Group, we’re identified for our lengthy historical past as one of many oldest brokerages in Atlantic Canada and for our dedication to wonderful consumer experiences. This can be a worth we share with Westland and one of many causes we moved ahead with this acquisition.”
With roughly 200 individuals and 19 places following this acquisition, Westland Insurance coverage is now claimed to be among the many main insurance coverage brokers in Atlantic Canada.
In October this yr, Westland Insurance coverage purchased a number of property and casualty brokerages together with Arrow Insurance coverage Company, Emsland & Associates Insurance coverage, and IBMG Canada.