Acquisition Further Defines Totten Group’s Wholesale Specialization and Expands its Canadian Footprint
Toronto March 4, 2015 -
Totten Insurance Group (Totten), a leading national insurance managing general agency, announced today that it has acquired the shares of National Brokerage Services S.C.N. Inc. (NBS), a Montreal, Quebec-based commercial insurance wholesaler. Terms of the acquisition were not disclosed. This strategic acquisition expands Totten Group's footprint in the Canadian marketplace and further defines its specialization in providing exceptional underwriting service in key industry segments.
Totten Group specializes in providing innovative solutions while partnering with an array of top quality domestic and international insurance carriers. By providing a diversified suite of customized insurance products and programs, Totten supports over 2,000 independent brokers throughout Canada. 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.
"Totten is excited to have NBS and its specialists join our team. 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," noted Heather Masterson, President and CEO of Totten. "In addition this amplifies our dynamic talent acquisition strategy by bringing more best in class professionals into our expanding organization.
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 Ms. 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. This transaction will enable us to access new and broader markets, along with expertise to serve and grow our client base," noted Mr. Boissé. "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."
About Totten Insurance Group
Totten Insurance Group is Canada's leading national MGA provider of niche products and innovative solutions. Totten Group is committed to servicing brokers across the country and is comprised of six divisions: Personal Lines; Commercial Property; Commercial Casualty; Hospitality; Construction and Professional Liability. With offices across Canada, Totten Group's corporate office resides in Toronto ON, and has other locations in Oakville ON, Dartmouth NS, Winnipeg MB, Montreal QC, and Vancouver BC. Learn more at www.tottengroup.com.
MEDIA CONTACTS:Brokerage and Banker Contact:
Hub International Limited
Director, Corporate Communications
Hub International Limited
Director, Mergers & Acquisitions
Source: HUB International Limited