Calgary-based insurance brokerage Rogers Insurance Ltd. is expanding outside of Alberta for the first time with the acquisition of a controlling interest in Brampton, Ont.-based CCV Insurance & Financial Services Inc.
Rogers Insurance announced on Tuesday that CCV would be acquired under its Calgary-based Inowest Insurance Brokers Inc. subsidiary. The acquisition represents the strategic expansion of Rogers Insurance into the Ontario marketplace, where CCV has offices in Brampton, Georgetown and Huntsville.
“We have a national strategy — we want to be across the country,” says Lee Rogers, president of Rogers Insurance. “Ontario is one of the natural progressions in that strategy.”
CCV is an independently owned insurance brokerage with approximately 50 brokers, offering a mix of commercial insurance, such as directors and officers and general liability coverage, and personal insurance, including property and casualty (P&C), life and health, and group insurance. That approach aligns nicely with Rogers Insurance’s strategy, Rogers notes.
“We’re focused on both personal and commercial lines — not just one over the other — and CCV has a very good mix of both businesses,” he says. “Our platform is to focus on all areas of the [insurance] business and be able to be dominant in every aspect of product offerings to our clients.”
The acquisition brings Rogers Insurance’s staff count to approximately 400.
Brian Evans, partner at CCV, has been named president of CCV and Robert Lewis, also partner at CCV, will become director, insurance distribution. Both will be shareholders.
“We are extremely proud of our employees and the business we have built,” Evans said in a statement. “This opportunity gives us the ability to aggressively expand our business model and integrate many of the Rogers world-class business philosophies, employee engagement strategies and industry leading digital technologies.”
Rogers Insurance has an employee ownership program that enables staff members to buy into the operation over time, and Evans said that was a key element of appeal for CCV in its decision to partner with Rogers.