Rogers Insurance and CapriCMW, two dominant regional insurance brokerages with offices throughout Canada, have officially merged to become Acera Insurance, one of Canada’s largest independent brokerages.
The newly-formed Acera Insurance has 1,000 employees (over 350 of whom are shareholders) in 50 offices across Alberta, BC, Ontario, and the Yukon. It has $1 billion in gross written premium, and provides a wide range of custom insurance and risk-management solutions for personal and commercial clients nationwide, including comprehensive employee benefits capabilities.
Derived from the word “Acer” which is the genus (or scientific family name) for the Maple tree, the name Acera Insurance is said to symbolize the depth and strength of Rogers and CapriCMW combined, while also recognizing the history and core values of two locally-owned companies with deep roots in the communities they serve.
The new brokerage will be led by Andrew Kemp, chairman and president, Lee Rogers, CEO, and Bruce Rabik, COO. It will build on the collaborative relationship that Rogers and CapriCMW have enjoyed for nearly 20 years, with goals of expanding nationwide, achieving additional scale and capacity, and creating valuable opportunities for new and long-term employees.
“The merger of Rogers Insurance and CapriCMW solidifies our industry leadership, builds our portfolios and provides significant value to our employees, partners, clients and communities,” said Lee Rogers, CEO of Acera Insurance. “We want to change the way Canadians feel about insurance.”
Acera Insurance will maintain the unique share ownership model that Rogers and CapriCMW both used prior to the merger. With over 350 employee shareholders, the brokerage said this model will “remain a central part of ongoing plans for attracting and retaining talent, enabling team members to share in their impact on the company’s ongoing growth and invest in its future”.
As part of the transaction, Acera Insurance has welcomed Clairvest as a minority partner, who will help support the brokerage’s long-term strategy for sustainable growth, while remaining independent and employee controlled. With an eye toward scaling up, the firm is looking to partner up with other Canada-based brokerages with complimentary values, cultures, products, and services.
“We will continue focusing on our growth across Canada, leveraging the stability and strength of the deep expertise, insights and experience of both companies,” said Andrew Kemp, chairman and president of Acera Insurance. “We are excited for this next chapter as we unite as one company, expanding our capabilities to deliver new products, services and solutions.”
