A major managing general agency announced this morning it has acquired of a Quebec-based wholesaler, expanding the reach of the company in the Canadian market.
Totten Insurance Group (Totten), has acquired the shares of National Brokerage Services S.C.N. Inc. (NBS), a Montreal, Que.-based commercial insurance wholesaler. Terms of the acquisition were not disclosed. This strategic acquisition expands Totten Group’s footprint in the Canadian marketplace.
“Totten is excited to have NBS and its specialists join our team,” said Heather Masterson, president and CEO of Totten. “The combined strengths of this partnership will further enhance our capabilities within our centres of excellence that benefit from specialized property and casualty expertise, as well as reinforce Totten Group’s strong position in the market.
“In addition this amplifies our dynamic talent acquisition strategy by bringing more best in class professionals into our expanding organization.”
Totten supports over 2,000 independent brokers throughout Canada, and the NBS acquisition complements Totten Group’s areas of focus predominately in the business segments of construction, contracting, hospitality, agriculture, restoration and remediation, errors and omission, directors and officers and hot works roofing among others.
Headquartered in Montreal, NBS has satellite offices in Alberta, Manitoba, Ontario and Quebec, which will remain in full operation while maintaining the NBS corporate brand and further expand Totten Group’s presence in each province.
Guy Boissé, President and Founder of NBS, will join Totten and continue in his role and report to Masterson.
“For National Brokerage Services, the acquisition will bring us one step closer to our objective of being one of the top wholesalers in Canada,” said Boissé. “This transaction will enable us to access new and broader markets, along with expertise to serve and grow our client base. Since our early beginnings in Amos, Québec, we have positioned ourselves as one of the most resourceful and effective allies for Canadian retailers and we shall now bring our offerings to an unmatched level.”
