Canadian broker Westland Insurance Group Ltd. announced the acquisition of First West Insurance Services, a subsidiary of First West Credit Union, effective Sept. 30, 2019.
Financial details of the transaction were not released.
First West Insurance Services provides personal, auto and business insurance in British Columbia under three regional divisions: Envision Insurance in the Lower Mainland, Valley First Insurance in the Okanagan, Similkameen and Thompson valleys and Island Savings Insurance on Vancouver Island and the Gulf islands. First West Insurance Services is based in Langley, British Columbia.
“First West Insurance Services is a landmark acquisition for Westland,” said Jason Wubs, CEO of Westland Insurance Group Ltd., headquartered in Surrey, British Columbia. “They are a pillar in the communities they serve and have built a client-centric culture that is perfectly aligned with Westland’s core values.”.
“We were thrilled to find a partner like Westland Insurance,” said Launi Skinner, CEO of First West Credit Union. “We believe Westland is perfectly poised to realize the incredible potential of our insurance teams and provide the best possible service for our insurance customers in B.C.”
Westland Insurance will add 300 employees and 36 offices from First West Insurance Services in British Columbia, expanding its reach to 110 locations in 56 communities across the province. Post-acquisition, Westland will have nearly 1,500 employees and more than 130 offices in British Columbia, Alberta and Saskatchewan.
BMO Capital Markets acted as financial adviser to Westland and KPMG Corporate Finance acted as financial advisor to First West.
About Westland Insurance Group
Westland Insurance Group is a client-focused and community-based property & casualty insurance brokerage established in 1980 in Ladner, B.C. The company is one of Canada’s largest independent P/C insurance distributors with over 90 offices throughout British Columbia, Alberta and Saskatchewan. Westland offers home, business, farm and auto insurance.
Source: Westland Insurance Group
Topics Mergers & Acquisitions Agencies Canada
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