PE-backed Alliant buys One Source Risk Management Canada

Alliant Insurance Services has acquired One Source Risk Management Canada, a Calgary-based insurance brokerage business.

Alliant Insurance Services has acquired One Source Risk Management Canada, a Calgary-based insurance brokerage business. No financial terms were disclosed. Newport Beach, California-based insurer Alliant is backed by PSP Investments and Stone Point Capital.

PRESS RELEASE

Jan 14, 2021

NEWPORT BEACH, Calif. — Alliant Insurance Services, Inc. has announced the acquisition of One Source Risk Management Canada, Inc., an insurance brokerage firm headquartered in Calgary. Alliant Chairman and CEO Tom Corbett stated: “The continued expansion of Alliant’s presence internationally, particularly in Canada, realizes a long-term goal for our organization.”

As the leading broker of credit and political risk insurance in North America, One Source provides clients with catastrophic loss protection without increasing credit exposures. One Source provides protection against excessive bad debts and customer insolvency.
One Source President George Babeu stated: “The One Source team is pleased and excited to be part of the Alliant organization. Having Alliant as our parent will help us continue to expand our footprint throughout North America and dramatically broaden our product offerings and value to our clients.”

“We are excited about the addition of the One Source Canadian operation and look forward to offering our clients One Source’s North American capabilities,” said Peter Arkley, President, Alliant Specialty. “The need for credit and political risk offerings throughout North America will continue to grow as we enter 2021, and Alliant is well positioned to meet the demand.”

Terms of the agreement were not disclosed.

About Alliant Insurance Services
Headquartered in Newport Beach, CA, Alliant Insurance Services, Inc., provides property and casualty, workers’ compensation, employee benefits, surety, underwriting, claims advocacy, and financial products and services to clients nationwide, including public entities, general contractors, tribal nations, healthcare providers, energy and marine corporations, law firms, real estate developers and owners, financial institutions, agribusinesses, and airlines and air ambulances. More information is available on the company’s website at alliant.com.