Westland Insurance Group continues to hit the ground running for 2023, by announcing its acquisition of the brokerage RiskTech Insurance Services, right after another M&A deal.
Based in Edmonton, AB, RiskTech is a brokerage that provides specialized capabilities and technical expertise. According to a release, the company focuses on large and mid-market commercial clients.
The acquisition of RiskTech complements Westland’s commercial insurance practice in Alberta, the company explained. The deal was completed on January 1, 2023.
“RiskTech is an extremely exciting acquisition for Westland as we continue to build upon and enhance our platform across Canada,” said Westland president & CEO Jamie Lyons. “The team brings a breadth of technical expertise to complex risks and cross-border insurance placements.”
Lyons added that the members of the RiskTech team are “dynamic and skilled professionals” that deeply understand and can help mitigate the risks faced by their clients, and that he and the rest of the Westland family are happy to welcome them.
Coinciding with the acquisition, Westland announced that Douglas H. Morrow will join the company as its new vice president of commercial in Alberta.
“We’re thrilled to welcome Douglas to the Westland team,” said Westland EVP commercial & specialty Donna Barclay.
Barclay explained that Morrow is a “well-respected industry veteran known for his entrepreneurial track record of building great insurance businesses,” citing Morrow’s most recent role as president and CEO of Excel Insurance Group – of which RiskTech was a member.
“Douglas is passionate about the insurance industry, and we are fortunate to add him to our senior leadership team,” Barclay added.
Westland had also announced earlier this week that it had acquired the Montreal-based brokerage Assurances R. Legault, which also closed on January 01, 2023. In business since 1980, the family-owned, second-generation insurance brokerage Assurances R. Legault has served business and personal clients in both English and French.
