Large brokerage makes commercial deal in Ontario

Acera Insurance Services Ltd. announced its latest deal with KRS Insurance Brokers Ltd., a specialized commercial brokerage based in Newmarket, Ont.  

“This partnership supports Acera Insurance’s longstanding dedication to build scale and strengthen the independent brokerage model to provide truly customized, comprehensive and competitive insurance and risk management solutions to Canadians,” the brokerage said in a press release. 

KRS Insurance, which was formed in 2011, specializes in providing coverage for pet care professionals and beauty service professionals nationally through its proprietary programs. 

“The partnership between Acera Insurance and KRS Insurance will further benefit the evolving insurance and risk management needs for these growing industries,” the release said.  

The deal, which closed on Jan. 1, will expand Acera’s presence as the “largest, independent, employee-controlled brokerage in Canada,” according to the brokerage’s website. 

KRS will transition to become Acera in the coming months, adding to the later brokerages’ 1,100 employees and 550 employee owners in over 60 offices across Canada. In 2022. Terms of the deal were not disclosed.

Acera Insurance was created in 2022 following a merger between British Columbia-based CapriCMW and Alberta-based Rogers Insurance.

Feature image by iStock.com/Gajus