Acquisition welcomes more than 90 employees and increases footprint to over 75 locations in Ontario
Toronto, ON (July 6, 2016) – BrokerLink, one of Canada’s largest property and casualty insurance brokerages, has announced the successful acquisition of Cornerstone Insurance Brokers Ltd. All four brokerage operations located in Woodbridge, Markham, Aurora and Barrie, Ontario, will integrate under the BrokerLink brand. The terms of the transaction were not disclosed.
“Cornerstone Insurance Brokers is a well-established name in Southern Ontario,” said Paul Meyer, Head of Acquisitions for BrokerLink. “Similar to our organization, Cornerstone Insurance Brokers has built their business on a service-oriented and professional culture which has created long-term and high-quality customer relationships. It was easy to see that this acquisition was the right fit for us and we look forward to welcoming their team to BrokerLink.”
“When we founded Cornerstone, our goal was to provide access to exceptional insurance coverage through an exceptional customer experience,” said Wendy DaSilva, Chief Executive Officer of Cornerstone Insurance Brokers Ltd. “BrokerLink’s focus on innovation, value, and excellent customer service align with the core values of our organization.”
With this acquisition, BrokerLink will also acquire the brand rights to BeWiser Insurance Brokers Inc. owned and operated by Cornerstone Insurance Brokers Ltd. Through the lead generation website BeWiser.ca, hard to place customers can work with insurance professionals to find insurance products that are right for them.
“The synergies between our organizations were also evident in the way Cornerstone has leveraged digital media to connect with customers,” added Meyer. “At BrokerLink, we strive to offer diverse products and services through a variety of distribution channels, including social media and through our website.”
Through the acquisition, BrokerLink welcomes 90 employees. Wendy DaSilva, Chief Executive Officer and Peter DaSilva, President and Chief Operation Officer will be joining BrokerLink to assist during the transition.
Established in 1991, the BrokerLink companies, which include Canada Brokerlink Inc., Canada Brokerlink (Ontario) Inc. and Macdonald Chisholm Trask Insurance, together constitute one of the largest Canadian property and casualty insurance brokerage operations with over 115 offices supported by more than 1,400 employees across Ontario, Alberta and Atlantic Canada. The BrokerLink companies are subsidiaries of Intact Financial Corporation (TSX: IFC).