Westland Insurance Group has entered into an agreement to acquire Storm Insurance Group in Nova Scotia.
The deal is scheduled to close January 06, 2021. Westland Insurance noted in a release that this is its first acquisition with offices in the provinces of Nova Scotia and Quebec.
Storm Insurance Group is a brokerage group that operates with several different brands, such as retail brokerages A.P. Reid, Sheppard, and Axxium; group brokerage MyGroup; MGA Agile Underwriting Solutions; and digital insurance platform ZipSure.ca. Storm Insurance specializes in partnering with carriers, brokerages, associations, and other organizations to offer custom insurance solutions.
Following the deal, Westland Insurance will gain new branches across the Western, Central, Quebec, and Atlantic regions – more than 120 employees in six provinces, and over 100,000 clients.
“We’re thrilled to be expanding our presence across Canada with such an entrepreneurial, innovative and well-established leader in the insurance industry,” said Westland Insurance president and chief operating officer Jamie Lyons.
Lyons additionally noted that just like Westland, Storm Insurance was founded in 1980 as a small, family-owned business. Under the leadership of founder Aileen Reid, current CEO Jamie Reid, and Storm’s executive team, the company has “set itself apart in the industry by investing in cutting-edge, customer-centric solutions.”
“Joining Westland is an exciting next step in Storm’s journey to become a leader in the Canadian insurance industry,” said Storm Insurance Group president and CEO Jamie Reid. “This move will advance our strategic position and build on the growth and success of our employees and businesses.”
