Co-operators General Insurance Company has acquired Carleton Insurance Brokers Ltd., an independent regional brokerage based in Ottawa, for an undisclosed sum.
Under the terms of the purchase agreement, Carleton Insurance Brokers’ current clients will have their policies – including premiums – protected until those contracts expire. At that point, clients will be given the option to obtain “comparable” policies from The Co-operators.
Carleton offers a wide range of personal and commercial insurance lines, including auto, home, and mortgage. The Co-operators hopes that this transaction will prove beneficial in expanding the multi-product insurer’s geographic reach.
“We're pleased to be strengthening our presence and growing our agency distribution system in Ottawa and across the country, which is part of our growth strategy," Kathy Bardswick, president and CEO of The Co-operators, said in a statement.
In April, the Co-operators acquired the Premier Group of Companies, a Vancouver-based MGA with niche offerings in professional liability, general property and specialty lines products.
