South Western Insurance Group announces acquisition of Ontario firm
South Western Insurance Group announces acquisition of Ontario firm | Insurance Business Canada
Insurance News
South Western Insurance Group announces acquisition of Ontario firm
Deal will widen risk coverage and placement, says CEO
Insurance News
By
Mika Pangilinan
The managing general agent, South Western Insurance Group (SWG), has announced its acquisition of A.M. Fredericks Underwriting Management Ltd (AMFUM).
Ontario-headquartered AMFUM was founded in 1993 by Tony Fredricks. It specializes in hard-to-place commercial insurance risks, with expertise in niche and non-standard commercial liability, professional liability, and property risks.
After completing SWG’s acquisition, Fredericks will retire after almost five decades in the insurance industry. His position leading AMFUM will be assumed by Ghazal Hamid, who serves as chief underwriting officer of SWG.
John A. Barclay, president and CEO of SWG Group Holdings, commented on the acquisition by highlighting the synergy between AMFUM and SWG.
“AMFUM will bring a broad risk appetite and placement solution to our group and further expand our ability to solve the placement needs of our brokers,” he said.
Barclay also thanked Fredericks for entrusting SWG with “the legacy of what he and his family built,” emphasizing that Hamid will leverage his experience to “lead the business forward.”
SWG offers a broad range of insurance solutions for specialty, niche, program and hard-to-place business. It was acquired in 2018 by Three Holdings Inc., a privately held insurance services group. The move was called a “good deal for both parties” by its former owner, the Canadian Broker Network (CBN).
In 2021, SWG became one of Insurance Business Canada’s 5-Star MGAs of the year. It received top marks in two categories, namely reputation and geographical reach.
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