The Storm Insurance Group has announced that it has successfully closed its acquisition of Sheppard Insurance Services and Risk Management.

The deal – first announced in March – is Storm’s second transaction for the year. Earlier this year, the insurance holding company snapped up Wardell Insurance Limited of Burlington.

Read more: Storm Insurance nabs Edmonton-based insurance brokerage

Sheppard Insurance has been in business for 40 years, and is considered one of Edmonton’s largest commercial insurance brokerages. Following the close of the transaction, Sheppard’s team of over 20 industry professionals, as well as owners Grant Sheppard and Scott Zurfluh, will continue to work under the Storm Insurance Group in leadership roles.

As divisional vice-president for the West Region, Grant Sheppard will lead Sheppard Insurance and A.P. Reid Insurance Retail (personal and commercial lines). Scott Zurfluh will help guide the e growth strategy and expansion of Agile Underwriting Solutions, a managing general agent and a Storm Insurance Group company.

Following the acquisition, Storm Insurance took the opportunity to restructure itself and its executive team as part of its five-year business plan.

The divisions and their respective heads are:

• Tim Branson, divisional vice-president, Quebec and Atlantic Retail.
• Brett Graham, divisional vice-president, Agile Underwriting Solutions.
• James Malcolm, divisional vice-president Ontario Region Retail, MyGroup Insurance & Zipsure.ca.
• Grant Sheppard, divisional vice-president, West Region.

The company’s national corporate services arm has also been given a shakeup. Corrie Anderson has been named vice-president of corporate operations, while Ed Marrie has been transitioned to the role of chief financial officer.