Axis Insurance Managers Inc. has announced the acquisition of Fuse Insurance, a Calgary-based digital commercial insurance brokerage.
Established in 2017, Fuse has developed a presence in managing risks in sectors such as e-commerce, healthcare, and cannabis.
The deal is set to bolster Axis Insurance’s position in Alberta and enhance its capacity to deliver risk management solutions. Fuse combines insurance expertise with software development, establishing itself as one of Western Canada’s first fully digital commercial brokerages.
With origins dating back to 1928, Axis has become one of Canada's top brokerages, employing more than 350 professionals across 16 specialized practice groups.
Over the past year, Axis has undertaken several strategic initiatives in Canada, focusing on mergers and acquisitions (M&A) and key leadership appointments. In addition, it has secured a significant growth investment from funds managed by middle-market investment firm Lee Equity Partners, LLC.
In May 2024, the company acquired The Magnes Group Inc., an independent insurance brokerage with over 100 staff across offices in Ontario and Quebec. This expanded Axis's presence in Eastern Canada and integrated Magnes's specialties in commercial, personal, and life insurance into Axis's operations.
In September 2024, Axis Insurance acquired Calgary-based Baker Insurance, a property and casualty brokerage established in 1976. This acquisition enhanced Axis's footprint in Western Canada and bolstered its capabilities in managing complex risks for both corporate and private clients.
Also in September 2024, Axis Insurance acquired O’Neill Group, a Vancouver-based firm specializing in life insurance and financial advisory services. This addition strengthened Axis's expertise in life insurance and expanded its service offerings in British Columbia.
In October, the company also appointed Shane Neil as senior vice president of corporate development for Eastern Canada. Around the same period, Axis added Blake McGarry as senior vice president of life, benefits, & wealth.
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