Totten Insurance Group, the Toronto-based managing general agency, announced that it has acquired the shares of Canadian Resources Insurance Solutions Inc. (CRIS), a Sudbury, Ontario-based insurance wholesaler.
Terms of the acquisition were not disclosed.
This strategic acquisition expands Totten’s footprint in the Canadian marketplace and further defines its specialization in providing exceptional underwriting service in key industry segments, said a statement issued by Totten, which is a subsidiary of Chicago-headquartered Hub International.
“The synergies created by this partnership will add significant value to our broker partners and further enhance Totten’s focus on specialty underwriting across Canada,” said Susan Murphy, president, Totten.
CRIS provides wholesale insurance solutions specializing in natural resources and other specialty niches including mining, forestry and construction. Rob Strain, CRIS’ president, will join Totten and report to Murphy.
“We are excited to join the Totten team. This partnership will help expand our national footprint and provide additional specialty offerings for our partners,” said Strain.
About Totten Insurance Group
As a managing general agent, Totten Insurance Group offers “niche products and innovative solutions,” the company said. It is comprised of six divisions: personal lines, commercial property, commercial casualty, hospitality, construction and professional liability. In addition to its headquarters in Toronto, Ontario, it operates in Oakville, Ontario; Dartmouth, Nova Scotia; Winnipeg, Manitoba; Montreal, Quebec; and Vancouver, British Columbia. Hub International purchased Totten in 2007.
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