Totten Insurance Group, an affiliate of Hub International Ltd, has acquired the shares of Canadian Resources Insurance Solutions Inc (CRIS). No financial terms were released. Sudbury, Ontario-based CRIS is a wholesale intermediary servicing insurance broker with a particular focus on mining and forestry. Totten, a provider of solutions for hard-to-place property and casualty accounts, said the deal expands its footprint in Canada and adds to its specialization. Chicago-based Hub is a portfolio company of U.S. private equity firm Hellman & Friedman.
Totten Insurance Group Acquires Canadian Resources Insurance Solutions, Inc.
August 03, 2016
TORONTO–(BUSINESS WIRE)–Totten Insurance Group (Totten), a leading national insurance managing general agency, announced today that it has acquired the shares of Canadian Resources Insurance Solutions, Inc. (CRIS), a Sudbury, Ontario-based insurance wholesaler. Terms of the acquisition were not disclosed. This strategic acquisition expands Totten’s footprint in the Canadian marketplace and further defines its specialization in providing exceptional underwriting service in key industry segments.
“The synergies created by this partnership will add significant value to our broker partners and further enhance Totten’s focus on specialty underwriting across Canada,” said Susan Murphy, President, Totten.
Based in Sudbury, Ontario, Canada, CRIS provides wholesale insurance solutions specializing in natural resources and other specialty niches including mining, forestry and construction. Rob Strain, CRIS’s President, will join Totten and report to Murphy.
“We are excited to join the Totten team. This partnership will help expand our national footprint and provide additional specialty offerings for our partners,” said Strain.
About Totten Insurance Group
Totten Insurance Group is Canada’s leading national MGA provider of niche products and innovative solutions. Totten is committed to servicing brokers across the country and is comprised of six divisions: Personal Lines; Commercial Property; Commercial Casualty; Hospitality; Construction and Professional Liability. With offices across Canada, Totten’s corporate office resides in Toronto ON, and has other locations in Oakville ON, Dartmouth NS, Winnipeg MB, Montreal QC, and Vancouver BC. Learn more at www.tottengroup.com.
Hub International Limited
Marni Gordon, 312-279-4601
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Photo courtesy of Reuters/Rick Wilking