Westland Insurance has announced that it has acquired Vancouver, BC-based Shephard Ashmore Insurance.
Shephard Ashmore Insurance is one of Canada’s leading insurance brokerages serving the music industry. A release stated that the broker helped pioneer music insurance programs for independent artists in the late 1970s, and has since become the broker of choice for some of the biggest names in showbusiness. The broker offers insurance and risk management solutions for major tours, festivals, and events, and can provide custom policies for the assets of artists and entertainers.
Following the acquisition, Peter Parkin and his Shephard Ashmore team will join Front Row Insurance Broker as part of Westland’s corporate advisory & specialty practice.
Notably, Front Row Insurance Brokers was acquired by Westland last September – the acquisition also marked Westland’s entry into the US market.
“We’re thrilled to add Shephard Ashmore’s talent and expertise to our market-leading entertainment team,” said Westland president and CEO Jamie Lyons. “We look forward to expanding their music specialty across Front Row’s platform in Canada, the US, and internationally.”
In an interview last month with Insurance Business, Lyons explained that his vision for Westland is for the brokerage to be Canada’s favourite. To accomplish this, Lyons stated that growth through either further acquisitions or upgrading tech capabilities is “fundamental” to the company.
“Ultimately, what we’re trying to do is build up our business thoughtfully for the future,” the chief executive said. “We’re trying to build a business that’s going be around decades from now, and we’re doing this in a shifting and evolving industry.”
