SIB Corp. has acquired 21st Century Travel Insurance Limited, adding a dedicated travel insurance managing general agent (MGA) to its platform as it continues to build out a full‑service brokerage offering.
21st Century Travel, led by president Jeff Pudwell, specializes in inbound and outbound travel insurance solutions for individuals and families across Canada. Federally chartered in 1979 and based in Cobourg, Ontario, the MGA distributes through approved brokers, with products underwritten by Manulife and other major carriers.
The terms of the transaction were not disclosed.
Under the deal, SIB will integrate 21st Century Travel’s products into its existing platform, giving brokers across its network access to a broader range of emergency medical, trip interruption and visitors‑to‑Canada coverages alongside core personal and commercial lines.
Pudwell will remain with the business and continue to lead its growth strategy.
“Partnering with SIB provides an exciting opportunity to scale our offering and reach a broader client base,” he said. “I’m excited to continue building the business alongside SIB and to ensure 21st Century Travel remains a leading travel insurance MGA in Canada.”
SIB president Ted Puccini said expanding into travel insurance is a logical next step for the group’s model.
“Expanding into travel insurance is a natural progression for SIB as we continue to build a full‑service brokerage platform,” he said. “Our clients rely on us to protect what matters most in their daily lives. Adding travel insurance enhances our ability to serve them holistically, while remaining firmly aligned with our core business.”
The acquisition comes as Canada’s travel insurance market continues to normalize after the pandemic and is expected to grow over the rest of the decade.
Market research indicates that Canadian travel insurance revenue reached about US$784 million in 2024 and is projected to grow at a compound annual growth rate of roughly 18% from 2025 to 2030, more than doubling by the end of the period.
Statistics Canada data showed that by 2024 Canada was welcoming close to 30 million foreign tourists annually, while Canadians made more than 50 million international trips, signalling a broad return to pre‑COVID travel patterns. More recent figures for early 2026 pointed to a shift in where Canadians are travelling, with trips to the US easing but overseas travel rising, which can support demand for higher‑limit medical and trip‑interruption cover across a wider range of destinations.
Within this environment, specialist MGAs such as 21st Century Travel have built niches around visitors‑to‑Canada and Super Visa products, often offering flexible features such as monthly payment options and coverage for stable pre‑existing conditions that generalist markets do not always match. That specialization has made them key partners for brokers serving newcomers, international students and older travelers.
For SIB’s broker network, bringing 21st Century Travel onto the platform creates a packaged solution in a line of business that is highly transactional but increasingly technical. The move should make it easier for producers to offer consistent travel and visitors‑to‑Canada options alongside home, auto, small commercial and group benefits, while keeping more premium within SIB’s ecosystem.
The transaction adds scale and a broader distribution footprint, while more closely aligning the MGA with a multi‑line brokerage group. That may strengthen the MGA’s position on product design and pricing, while giving insurers access to a larger and more diversified book of travel business.
The deal also fits into a wider consolidation trend in the Canadian MGA and travel insurance space, where brands such as TuGo, Travelance and Destination Travel Group work closely with brokers to differentiate on coverage breadth and claims service.
As competition intensifies and regulatory expectations around product suitability and disclosure rise, having a dedicated travel MGA within a larger brokerage platform positions SIB to respond more quickly to market and regulatory changes.
