Canada’a SIB Corp., operating as StoneRidge Insurance Brokers (SIB), an independent provider of insurance and consulting service, has acquired Generations Insurance Inc., to expand its personal and commercial insurance offerings.
Founded in 1999 and located in Scarborough (near Toronto), Generations is a founder owned and operated full-service insurance brokerage servicing Ontario. Generations provides a suite of personal and commercial offerings with the goal of providing the information and products needed for a customer to make informed decisions at competitive prices.
Financial details of the transaction were not disclosed.
“We are excited to pass along ownership of Generations to SIB, who we believe will be able to continue understanding our customers’ needs and offer competitive premiums to achieve the right solution,” said Claire Munro, Vicki Van Santen and Tracey Long, Generations’ three founding partners, in a joint statement.
“SIB has completed two transactions so far in 2022, with another two transactions expected to close in the coming months” said Ted Puccini, SIB’s CEO and president.
About SIB Corp.
Headquartered in Ancaster, Ontario, with 34 locations, StoneRidge’s platforms include an independent insurance brokerage, an MGA/MGU, and an adjuster. The company has been providing a full range of insurance, risk advisory, life and benefits services to businesses, associations and individuals since 1945.
Generations is the tenth investment that SIB has made since partnering with CIVC Partners LP, a private equity firm, in November 2019. SIB continues to actively seek additional partnership opportunities and is committed to growing organically and through partnership investments across Canada and is actively seeking partnership/acquisition opportunities.
Source: StoneRidge Insurance Brokers
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