SIB Corp. and CREST Insurance Group have agreed a partnership that will create an independent insurance distribution platform serving clients across North America.
The combined business will have more than $2.5 billion in gross written premium, over 2,000 employees, 500 carrier relationships and more than 230 locations in Canada and the US. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2026.
SIB, headquartered in Hamilton, Ontario, provides personal, commercial and benefits insurance to individuals, businesses and organizations. It has been expanding through acquisitions, including 21st Century Travel, which took it into travel insurance, and a British Columbia brokerage.
CREST, headquartered in Tucson, Arizona, provides property, casualty, life, health and employee benefits through brokerages and offices in Arizona, California, Colorado, Nevada, Texas and Wyoming. It was formed in 2010, when Ritchie and other senior members of a Tucson bank-owned agency acquired its assets. It has grown rapidly through acquisitions as a portfolio company of private equity firm CIVC Partners. The announcement credited CIVC and its Marc McManus with helping to put the partnership together.
"This partnership brings together two growth-oriented organizations with a common belief that local expertise and entrepreneurial leadership remain the foundation of exceptional client service," said Ted Puccini, president and CEO of SIB.
"Our union is about building for the future," said Cody Ritchie, president and CEO of CREST. "Together, we are creating a platform that fosters local expertise while opening new opportunities for our employees, clients, and insurance partners."
Both chief executives framed the deal around scale and future growth.
"Scale creates opportunity," Puccini said. "This partnership strengthens our ability to attract talent, execute on an ambitious corporate development plan, invest in innovation, deepen carrier relationships, and deliver even greater value to our clients."
The combined organization will operate across commercial insurance, personal insurance, benefits, life and specialty risk solutions. The companies have not yet said who will lead the combined business, how it will be branded or how ownership will be split.
For Canadian brokers and clients, the practical questions centre on carrier access and footprint. Puccini's reference to an "ambitious corporate development plan" points to continued acquisitions on both sides of the border, adding another well-funded buyer to a Canadian brokerage market where consolidation shows no sign of slowing. For SIB clients with operations in CREST's six states, the combined platform may offer a single broking relationship across both countries, although the companies have not set out how cross-border accounts will be handled.
