We are pleased to inform you that Canadian Broker Network (CBN), a group of leading, independent commercially oriented insurance brokers, has reached an agreement with Intact Financial Corporation to acquire its wholly owned subsidiary, South Western Insurance Group Limited (South Western). The transaction is expected to close by the end of the year.
CBN was attracted to South Western not only because of its strong reputation and portfolio of niche and specialty insurance products but also because of its significant growth opportunities. South Western has a long tradition of providing its brokers with creative solutions and exceptional service and we remain committed to building on our relationships and delivering new products and solutions.
This acquisition is a tremendous opportunity for CBN as it will expand its traditional brokerage activities into the wholesale side of the business, an important segment of our industry. The acquisition also provides South Western with the ability to strengthen its relationships with insurance markets to better support brokers across the country.
South Western will continue to operate as an independent organization with its own brand, products and management team – just as it has done for more than half a century. Our existing team of underwriters and support staff will continue to stand behind our suite of specialty and niche products and programs. These individuals can be reached at the same phone numbers or email addresses as listed on our website. Moving forward, the current management team, including Barb Pattenden, Dawn Del Fiacco and Michel Perron, will play an important role in expanding our activities and better supporting you. CBN’s role as the new owner will be to help direct South Western’s strategy and to provide the collective guidance of its members.
Mack Rooney will continue in his role as President of South Western while a search for a new leader is conducted. We are pleased that Mack has agreed to delay his planned retirement to ensure a seamless transition for South Western’s brokers and staff.
The support that South Western has received from its broker partners over the past five decades has been a critical part of its success. We thank you for your support and we remain committed to serving and strengthening our valued relationships with each of you.