HKMB International Insurance Brokers announced that it has entered into an agreement to purchase the Toronto and Vancouver operations of Morris & Mackenzie Inc. and will integrate the operations of the two offices into its own during the first quarter of 2007. Further details concerning the acquisition were not disclosed.
HKMB President, Gregory Belton commented: “The acquisition of Morris & Mackenzie’s Toronto office builds on our well established foundation in that market. The purchase of Morris & Mackenzie’s Vancouver business gives HKMB an important local presence in Western Canada and new opportunities for expansion.”
The bulletin also noted that “Aviva Canada facilitated this transaction which also included the merger of Morris & Mackenzie’s Quebec operations with Dale-Parizeau L.M.”
“HKMB CEO, Neil Morrison indicated: “Aviva Canada’s President and CEO, Igal Mayer, was instrumental in bringing the parties together in such a manner that everyone came away a winner. We appreciate Aviva’s assistance in taking our business forward and its ongoing support of the independent broker. We are very excited about our new Toronto and Vancouver-based colleagues joining the HKMB family.”
HKMB stated that the transaction “cements its position as Canada’s largest privately held commercial insurance broker with annual written premiums exceeding $300 million. It provides risk management and insurance services across Canada and worldwide.”
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