BrokerTeam Group (BTG) is establishing two new insurance brokerages, further expanding its growing independent insurance broker network.
The insurance brokerage management company will help establish both BrokerZone Insurance in Mississauga, and BrokerUnion Insurance in Pickering within the fourth quarter of 2020. Once established, BTG’s total brokerage network will have 12 brokerages.
BrokerUnion Insurance previously operated as a Desjardins Financial Security office, but it converted into an RIBO-licensed brokerage earlier this month.
As brokerages, BrokerZone and BrokerUnion will offer property and casualty insurance, as well as life insurance in Ontario. BrokerUnion also has plans to expand into other provinces, a company release said.
BTG will provide BrokerZone Insurance and BrokerUnion Insurance with insurer contracts and mentorship to kickstart their business and premium growth. BTG CEO Royle Leung will serve as the principal broker for both brokerages, until Vladimir Latinovic of BrokerZone Insurance and Muqit Aziz of BrokerUnion Insurance obtain their respective principal broker licenses.
“Currently, there are many hurdles for brokers to start their own brokerage through traditional means,” said Leung. “BrokerTeam Group makes it an achievable opportunity with our established relationships with insurers and pool of industry experience. Our ultimate goal is to open up doors for talent so they can develop into leaders within the industry.”
