Cambridge, ON (May 3, 2021) – Collectivfide Insurance Group Inc. is very pleased to announce finalization of the acquisition of Barrie, Ontario-based multiline broker RK Mooney Insurance Brokers Ltd. This announcement marks the fourth broker acquisition for Collectivfide. The firm was formed in 2019 by a number of mutual insurance companies in Ontario and elsewhere across Canada.
“We are excited to close the acquisition of RK Mooney. One of the main goals of Collectivfide – one of our reasons for being really – is to protect mutual volume through the acquisition of high quality brokerages with sizeable mutual books. We are making good on this promise to our mutual shareholders,” says Tony Ngo, President and CEO of Collectivfide Insurance Group.
We look forward to working with RK Mooney’s management team and staff so the company can continue to serve its valued clients in Simcoe County and area. As we do with all our broker partners, we will strive to ensure that RK Mooney always has access to the resources it needs to continue to build relationships, both with its clients and its insurer partners – whether mutual or stock.”
On June 1, 2020 Collectivfide closed the acquisition of a majority stake in Alliston, Ontario-based multi-line insurance brokerage Doner-Horsley. The company closed the acquisition of a majority stake in Ayr, Ontario-based multiline insurance brokerage dbi Brokers Ltd. on September 23, 2020 and closed the acquisition of a majority stake in Owen Sound, Ontario-based multiline insurance brokerage TG Group Inc. on February 3, 2021.
About Collectivfide Insurance Group Inc.
Formed in 2019, Collectivfide’s shareholders represent mutual insurance companies in Ontario and across Canada with more than a century-and-a-half of experience to draw upon. The company is committed to protecting the independent broker distribution channel. By working alongside broker partners, Collectivfide supports brokerages with all facets of their operations in order to help them focus on serving and building relationships with members of the communities they serve. At Collectivfide, we operate under the principle that mutual insurers and their broker partners are stronger when they work together. Learn more about us at www.collectivfide.com.
About RK Mooney Insurance Brokers Ltd.
For more than 30 years, RK Mooney Insurance Brokers Ltd. has helped individuals and businesses protect their property and loved ones in locations throughout Simcoe County. The company provides a full range of insurance products that include both personal and commercial lines, as well as a range of life and disability products. Since inception, it has been the goal of RK Mooney to listen to the concerns of its clients and provide effective solutions that will allow them to manage risk at an affordable price.
SOURCE: Collectivfide Insurance Group Inc.Tags: Acquisition