Mutuals group closes latest brokerage deal

Collectivfide Insurance Group closed its third acquisition of the year after completing a deal with Claremont Mississauga Insurance Brokers Inc. 

Claremont Insurance is a full-service brokerage offering home, auto and commercial insurance to clients in the greater Toronto area. 

Upon making the decision to retire, brokerage owner Frank Claremont sold his business to Collectivfide after 50 years in the insurance industry. 

“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. It was fundamental to me that everything we’ve accomplished would be protected and continue long after I retire,” Claremont said in a press release.  

Claremont will continue to run the business as part of a gradual exit, before passing the reins to office manager, Judy Manger.  

This is the second acquisition within a month for Collectivfide, which recently entered into a partnership stake with Burlington, Ont.-based Utter/Morris Insurance Brokers Ltd. 

Collectivfide’s shareholders represent mutual insurance companies in Ontario and throughout Canada, across nineteen offices. This is the Group’s thirteenth brokerage acquisition since its inception in 2019. 

Feature image by iStock.com/Tippapatt