Western Financial Group Inc. announced that it has acquired Axion Insurance Services Inc. of Ontario. The acquisition was completed on June 19, 2018 and will add 10 Ontario-based locations and approximately 60 insurance experts to Western’s existing network of insurance brokerages across Canada.
Financial details of the transaction were not disclosed.
“I’m very pleased to welcome Axion to the Western family. As part of our Canadian expansion strategy, we are excited to make our first acquisition beyond the borders of the four Western provinces and we felt that Ontario was an ideal place to start,” said Kenny Nicholls, Western’s president and chief executive officer.
In a statement, Western said it is committed to expanding its physical presence across Canada.
“Joining Western, an organization that shares our values and deep connection to the communities we serve, is significant,” said Mike Teixeira, co-founder of Axion.
“Our employees and customers will benefit from Western’s commitment to the ongoing success of local insurance brokers by continuing to do the best we can for our customers each day,” said Donna Grabowski, co-founder of Axion.
About Axion Insurance Services Inc.
Established in 1990, Axion is an insurance broker with locations in and around the Greater Toronto Area including Parry Soundand, Ottawa. Axion provides personal and business insurance services to its customers including online services.
About Western Financial Group Inc.
Western is a diversified insurance services company that has been caring for the insurance needs of over one million Canadians for more than 100 years. Headquartered in High River, Alberta, Western provides personal and business insurance services through more than 178 locations, affiliates and online, with a skilled team of approximately 1,800 people.
Western is a subsidiary of Trimont Financial Ltd., a subsidiary of The Wawanesa Mutual Insurance Company.
Source: Western Financial Group
Topics Mergers & Acquisitions Agencies Canada
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