McDougall Insurance Brokers has acquired Ontario Insurance Network, a 12-location brokerage based in Eastern Ontario, continuing an acquisition programme that has made it one of the fastest-growing broker groups in Canada.
The deal is McDougall’s fifth of 2026. The McDougall Group has grown to approximately $1.6 billion in annual premiums, 1,500 employees and more than 90 office locations, positioning it as one of the largest brokerages in Ontario. That growth has accelerated sharply since Definity Financial Corporation increased its ownership stake in McDougall to 75% in 2022, with the group doubling its size to over $1 billion in GWP by the end of 2023 through major acquisitions including McFarlan Rowlands in southwestern Ontario and Drayden Insurance in Alberta, before pushing further to $1.2 billion by the end of 2024.
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OIN has itself expanded through a series of local mergers in recent years, building a regional footprint across Eastern Ontario before combining with McDougall. No financial terms were disclosed.
The OIN transaction follows a template McDougall has refined across multiple acquisitions: targeting owner-led firms where one partner is retiring and the other stays on to run the business. OIN President Bryan McDermott will remain with the organization post-transaction. Managing Partner Scott McDermott is departing to pursue interests outside of insurance.
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That structure - retaining operational leadership while absorbing a business into a larger platform - has allowed McDougall to grow quickly without losing the local relationships that make regional brokerages valuable in the first place. It is a model that resonates in a market where client retention post-acquisition is the central challenge for consolidating groups.
The deal arrives against a backdrop of sustained consolidation across Canadian brokerage. Following a year of relative stability in 2025, with 99 announced Canadian insurance brokerage transactions compared with 100 in 2024, the market entered 2026 on a measured footing. But measured overall activity has not slowed the most active acquirers. Private equity-fuelled platforms, succession pressures and rising costs are intensifying Canada’s broker M&A race and rewarding efficient operators.
Distribution M&A is expected to remain the most active segment of Canadian insurance M&A in 2026, with brokerage consolidation continuing to be dominated by private equity-backed platforms pursuing larger acquisitions alongside steady small and midsize broker roll-ups. McDougall sits squarely in that dynamic - Definity-backed, acquisition-active, and operating at a scale that makes it a natural destination for regional independents weighing their options.
Lorne McDougall, VP of McDougall Insurance, said: “Ontario Insurance Network and McDougall operate the same way. We both succeed by focusing on our clients, our staff and our Canadian communities. People matter to both OIN and McDougall, and we are thrilled to welcome the OIN team to McDougall and support the next chapter of our combined growth.”
Bryan McDermott said: “As we looked at the future of OIN, it was important to find a partner that understood what mattered to us. We have a commitment to our staff and our clients - and are excited that this move will enable them greater opportunities through McDougall’s scale.”
