Axis Insurance acquires BC-based O'Neill Group

Axis Insurance acquires BC-based O’Neill Group | Insurance Business Canada

Life & Health

Axis Insurance acquires BC-based O’Neill Group

The firm will operate as a dedicated practice group

Life & Health

By
Terry Gangcuangco

Axis Insurance Managers has expanded its presence in the employee group benefits and wealth advisory sectors by acquiring O’Neill Group, a British Columbia-based firm specializing in life insurance and financial advisory services.

Founded in 1985, O’Neill Group operates out of Vancouver with a 12-member team, offering a full suite of benefits, life, and wealth advisory solutions. Following the acquisition, the firm will continue its operations under the Axis Insurance umbrella as a dedicated practice group.

Commenting on the deal, president Thomas O’Neill said: “The strategic alliance with Axis expands our capabilities and extends our reach, enhancing the services we can provide to our clients.

“Having worked alongside Axis for over 10 years, we are confident in a shared vision and dedication to excellence, deeply rooted in our aligned values and company culture, and are excited to continue to provide personalized, top-tier service to our clients and plan members.”

Axis Insurance serves a wide range of local, national, and international clients across commercial insurance, employee benefits, life insurance, and wealth advisory services. Established in 1928, the company has grown to over 350 employees.

Chief executive Alex Meier (pictured) said: “Expanding in the benefits and wealth advisory business with the acquisition of the O’Neill Group represents an exciting new step for Axis.

“Healthy and high-performing employees are vital to the success of businesses today, and the leading-edge employee and executive benefits plans from O’Neill Group help our commercial clients stay competitive by attracting and retaining top industry talent.”

Meier highlighted that the addition of O’Neill Group continues to build upon the group’s existing benefits practice and positions the specialty brokerage well on its market status journey in Canada.

The financial terms of the acquisition were not disclosed.

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