Collectivfide expands Ontario presence with new acquisition

Collectivfide expands Ontario presence with new acquisition | Insurance Business Canada

Mergers & Acquisitions

Collectivfide expands Ontario presence with new acquisition

This is the group’s third addition in 2024

Mergers & Acquisitions

By
Jonalyn Cueto

Collectivfide Insurance Group Inc. has announced its acquisition of Claremont Mississauga Insurance Brokers Inc., marking the group’s 13th acquisition since its establishment in 2019.

Located in Mississauga, Ontario, Claremont Mississauga Insurance Brokers has served the Greater Toronto Area for over 50 years. According to a news release, this acquisition is Collectivfide’s third in 2024.

Claremont Mississauga Insurance Brokers has built a reputation for providing customized home, auto, and commercial insurance services.

Frank Claremont, the owner, highlighted his intention to ensure the brokerage’s legacy and the welfare of his clients and employees as he transitions into retirement.

“My brokerage is something that is extremely important to me, and I’m proud of what we’ve built and the relationships we’ve made over the years,” Claremont said. “It was fundamental to me that everything we’ve accomplished would be protected and continue long after I retire. I met with many potential partners, who all had their own benefits, but the team at Collectivfide really sold me because I knew they stood for what they believed in, and I knew my employees and clients would be not just safe, but also valued and well taken care of.

“With the assurance that my brokerage and succession plan is in good hands, I can transition to retirement with a profound sense of peace and contentment.”

Tony Ngo, president and CEO of Collectivfide Insurance Group, emphasized the importance of this acquisition.

“We know what a privilege it is to have Claremont Mississauga Insurance Brokers join our network. Frank has made a legacy for himself and his employees, and we’re proud to honour and continue the excellent work his team has done for the brokerage and their long-standing clients,” Ngo said.

“We understand how personal selling your business can be, so we work with owners to create customized succession plans that suit their wants and needs to make this as ideal a situation as possible. At the heart of Collectivfide is respect, understanding, and partnership, and we look forward to our joint future with Claremont Mississauga Insurance Brokers, together.”

As Claremont Mississauga Insurance Brokers transitions under the Collectivfide umbrella, office manager Judy Manger will assume a more significant role in leading the brokerage.

Founded in 2019, Collectivfide Insurance Group Inc. has been operational for five years, providing centralized services to its broker partners. These services include human resources support, marketing, underwriting, data analytics, and office optimizations.

Collectivfide’s network now comprises 13 broker partners with 19 office locations throughout Ontario. Collectivfide’s shareholders include mutual insurance companies from Ontario and across Canada.

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