BEACON UNDERWRITING ACQUIRES CAN-SURE UNDERWRITING

 BEACON UNDERWRITING ACQUIRES THE BUSINESS OF CAN-SURE UNDERWRITING

Chicago March 5, 2014 -

Beacon Underwriting (Beacon), one of Canada's leading insurance managing general agencies (MGA), announced today that it has acquired the business of Can-Sure Underwriting, Ltd. (Can-Sure), a Vancouver, British Columbia-based MGA. Terms of the acquisition were not disclosed. The Can-Sure operations will add a new office to Beacon's footprint in Vancouver.

In connection with this acquisition, Rick Roberts will assume the role of Beacon's Chairman and Jeff Hart will become Beacon's President.

Founded in 2003, Can-Sure offers a broad spectrum of MGA product offerings, including commercial property and liability risks, to the broker community across Western Canada. The combination of the two firms will further expand their offerings to insurance brokers throughout Canada. The Can-Sure brand will be retained.

"We are thrilled to welcome the talented team from Can-Sure," said Rick Roberts.  "By combining the forces of Beacon and Can-Sure, we will offer our brokers an outstanding array of products supported by strong technical expertise that will further help them develop and grow their businesses."

"I am extremely pleased for our team and our brokers that we have been able to align ourselves with the Beacon team," stated Jeff Hart. "We have the utmost respect for their business model and acumen and really look forward to growing together in the future.  It was key for me to make sure I found the right home for my staff and our brokers and with Beacon we have absolutely secured that."

Beacon Underwriting Ltd. is committed to providing Canadian brokers with competitively priced standard and niche insurance products. With offices in British Columbia, Alberta and Manitoba, Beacon offers a flexible underwriting facility with authority to make decisions and issue policies on behalf of Canada's leading insurers and Lloyd's Underwriters. 

MEDIA CONTACTS:

Cara Siegel
Director, Corporate Brand Management and Media Relations
Phone: 516.677.4992

Clark Wormer
Director, Mergers & Acquisitions
Phone: 312-279-4848

Source: HUB International Limited