StoneRidge Insurance Brokers (SIB), an Ontario-based independent insurance brokerage, MGA/MGU, and adjusting firm, has announced its acquisition of Generations Insurance Inc., a full-service insurance brokerage located in Scarborough, ON.
SIB is headquartered in Ancaster, ON, and has been providing a full range of insurance, risk advisory, life and benefits services to businesses and individuals since 1945. The acquisition of Generations – a founder owned and operated firm dating back to 1999 - will expand SIB’s personal and commercial insurance offerings.
“We are excited to pass along ownership of Generations to SIB, who we believe will be able to continue understanding our customers’ needs and offer competitive premiums to achieve the right solution,” said Claire Munro, Vicki Van Santen and Tracey Long, Generations’ three founding partners.
Generations is the tenth investment that SIB has made since partnering with the private equity firm CIVC Partners, LP, in November 2019. It is the second transaction SIB has made so far in 2022, and according to SIB’s president and CEO Ted Puccini, “another two transactions [are] expected to close in the coming months”.
SIB announced it is actively seeking partnership and acquisition opportunities across Canada, while also remaining committed to organic growth.
