Duliban Insurance Brokers Ltd., a division of McDougall Insurance Brokers Ltd., has combined operations with Tripemco Insurance Group Ltd., a commercial lines and specialty brokerage based in Stoney Creek, Ont. The deal, announced Wednesday, is Duliban's third transaction of 2026, following its acquisition of Annex Insurance Group in March and its combination with Mississauga-based Insuranceland in August.
"Tripemco is a perfect fit for our organization," Jason Duliban, president of Duliban, said. "We are thrilled to be able to merge with Tripemco and begin an exciting new chapter while remaining committed to trusted relationships and long-term growth."
Tripemco's president, Vince Vaccarello, a second-generation leader of the firm, will remain in that role and integrate with McDougall's leadership team. Tripemco chief executive Paul Vaccarello will retire following the transaction. "Our goal from the very beginning of this process was to make our business better; for our clients and our staff," Vince Vaccarello said.
The deal lands weeks after Definity Financial Corp., McDougall's majority owner, told investors on its July 31 second-quarter earnings call that its national broker platform now manages roughly $1.6 billion in gross written premiums, placing it among Canada's 10 largest brokers. Definity has raised its ambitions accordingly: the company now targets $2 billion in managed premiums by the end of 2027, alongside guidance for 20% annual growth in broker-platform operating income.
"Our second quarter results demonstrate the continued momentum of our business under our expanded scale," Definity president and chief executive Rowan Saunders told analysts on the call. Saunders also said financial capacity is not currently constraining acquisitions, and that the insurer remains open to further broker and carrier deals.
That momentum is not limited to McDougall. Definity's broker platform has been buoyed by the integration of its recently acquired Travelers Canada book, with more than 40,000 policies converted and run-rate expense synergies reaching $52 million six months in. Distribution income from the broker platform totalled $24.5 million in the quarter, with total broker operating income up 20.2% year over year.
Against that backdrop, Lorne McDougall, vice-president of McDougall Insurance, described the company's acquisition approach as relationship-driven rather than purely financial. "Our corporate strategy remains partnering with key brokerages with family values and a community focus," he said. "Tripemco is an organization that complements our vision perfectly."
The Tripemco deal extends Duliban's presence in the Hamilton area for a third time this year, following the Annex Insurance transaction in March, which brought commercial expertise into Ontario's Niagara and Hamilton regions, and the Insuranceland combination in August, which added group insurance capability in the Greater Toronto Area.
Paul Vaccarello, stepping into retirement, framed the deal around continuity for existing clients and staff. "Throughout my career I've always cared about looking after the people who have looked after me," he said. "I am happy to know that as I take my foot off the gas, Tripemco's clients, staff and other stakeholders are looking at a brighter future than ever before."
Financial terms of the transaction were not disclosed.
