StoneRidge Expands into Saskatchewan, Partners with K5 Insurance Inc.

Ancaster, ON (June 3, 2022) – SIB Corp., operating as StoneRidge Insurance Brokers (“SIB”), a leading independent provider of insurance and consulting services, whose platforms include an insurance brokerage, MGA/MGU, group benefits and an adjusting firm, has partnered with K5 Insurance Inc. (“K5”), expanding its personal and commercial insurance presence in Manitoba and into Saskatchewan.

K5 is a full-service insurance brokerage servicing clients throughout the prairies since 1967. With three locations, K5 provides a suite of personal and commercial offerings with the goal of providing the information and products needed for a customer to make informed decisions at competitive prices.

“We are excited to be a part of the StoneRidge family – this new beginning for K5 will provide us access to additional markets, products and resources. We believe being part of StoneRidge will allow us to meet our customers’ needs and offer competitive premiums to achieve the right solution,” said Mike Klassen, President of K5.

“We are extremely lucky to have Mike and K5 as part of the SIB family. This transaction demonstrates our continued focus on becoming a national broker. SIB has completed three transactions so far in 2022, with another three transactions expected to close in the next 60 days” said Ted Puccini, SIB’s CEO and President.

K5 is the twelfth investment that SIB has made since partnering with CIVC Partners, LP, a private equity firm, in November 2019. SIB continues to actively seek additional partnership and acquisition opportunities and is committed to growing organically and through investments across Canada.

About SIB

Headquartered in Ancaster, Ontario, with 34 locations, StoneRidge is a leading independent insurance brokerage, MGA/MGU, and adjuster, and has been providing a full range of insurance, risk advisory, life and benefits services to businesses, associations and individuals since 1945. For more information on SIB’s partnership and investment approach, please visit appliedsystems.com.

SOURCE: StoneRidge Insurance Brokers

Tags: Manitoba, Mergers & Acquisitions, partnership, Saskatchewan, StoneRidge