Acquisition provides growth opportunities for both companies and increased value for clients
Montreal, QC (July 14, 2015) – Strategic Underwriting Managers Inc. (SUM Insurance) has announced its acquisition of Morin Elliott Associés Ltée (Morin Elliott), a Montreal-based Managing General Agent.
Founded by John and Peter Morin with Ian Elliott in 1988, Morin Elliott specializes in non-standard commercial and residential property risks and complimentary liability coverages. The company will become part of the SUM Insurance Group of Companies, an independent Managing General Agent with offices in Toronto and Montreal. Each Company will continue to run separately.
“Morin Elliott’s success lies in paying attention to and serving insurance brokers needs rapidly, and matches perfectly with SUM’s focus on providing solutions in real time to our customers- insurance brokers” stated Jeff Somerville, President of SUM Insurance. “Their expertise in non-standard property risks perfectly complements our focus on casualty products” Travis Budd, Vice President SUM Insurance noted.
John Morin will continue with the firm as Chairman, and said “we are pleased and look forward to working with SUM to build on our success. SUM’s values are consistent with ours, and this transaction provides continuity by reinforcing our long term commitment to our brokers and markets. “
“We are excited to grow our business in Quebec with John Morin” continued Travis Budd, “and proud to acquire the venerable Morin Elliott name and legacy, which we greatly respect and plan to continue with John’s ongoing involvement.”
About Strategic Underwriting Managers Inc. operating as SUM Insurance
SUM Insurance is an independent Managing General Agent serving Canada coast to coast through offices in Montreal and Toronto. Our product suite includes Commercial General Liability, Umbrella & Excess, Environmental Impairment, Errors & Omissions, Directors & Officers, Product Recall, Life Science, Security & Protection and Marine insurances.
Source: SUM Insurance
