BrokerLink closes three more acquisitions across Canada
BrokerLink is continuing its expansion into Alberta, Ontario and Atlantic Canada with the acquisition of three more brokerages over the past couple months.
A subsidiary of Intact Financial Corporation, BrokerLink closed the acquisition of New Brunswick-based McTague Insurance on June 1. One month later, it closed the acquisitions of Ontario-based DPM Insurance Group and Alberta-based Crowsnest Insurance Agencies Ltd.
With these three acquisitions, BrokerLink has now made 15 acquisitions so far in 2022. It is one of Canada’s largest P&C brokerages, with more than 200 branches and 3,000 employees across the country.
The addition of McTague Insurance allows BrokerLink to expand offerings in personal and commercial business solutions for home, auto, boat, motorcycle, ATV, business interruption and commercial property. Founded in 1949, McTague Insurance has locations in Saint John and Quispamsis, N.B.
Ontario’s DPM Insurance has roots tracing back to the 1920s, consisting of longstanding brokerages with locations in Blenheim, Chatham, Essex, Tilbury, Harrow and Wallaceburg. “DPM Insurance Group adds additional home, auto, motorcycle, ATV, boat, trailer, tenant, business and farm insurance to BrokerLink’s slate of expertise,” a BrokerLink release states.
Blairmore, Alta.-based Crowsnest Insurance has provided insurance services to the community for more than 20 years. It offers a variety of products including home, auto, condo, tenant, recreational vehicle and business insurance.
Insurance professionals from all three newly-acquired brokerages will continue to serve local community members as part of the BrokerLink team.
BrokerLink’s M&A strategy remains focused on regions where it does business. Currently, the brokerage isn’t looking to get into other verticals, its vice president of acquisitions Michael Stack told Canadian Underwriter earlier this year.
“We continue to be a strong investor in the areas [in which] we operate, and we’re always ready to chat with broker principals who are thinking about the future of their brokerage,” BrokerLink president Joe D’Annunzio said in the July 12 release.
In addition to its three most recent acquisitions, BrokerLink has welcomed the following 12 other brokerages into its ranks this year:
Alberta-based Bow Valley Insurance, Tailor Made Insurance and Maple Insurance;
Ontario-based Blair Insurance, A&A Insurance, Greg Kelly Insurance, Rice Inc., Nickel City Insurance Brokers, Atto & Associates Insurance, Insurance Executives, and Goodison Insurance; and,
Atlantic Canada-based Bluenose Insurance (in Nova Scotia).
Feature image by iStock.com/metamorworks
