Integro Ltd has bought the assets of Finning Insurance Services (FIS), a Vancouver-based insurance broker, from Finning International Inc. The financial details of the acquisition were not disclosed. Integro, a U.S. insurance brokerage and risk management company, said FIS employees have joined its Canadian subsidiary, Integro Canada Ltd, which was established in 2005. It added that the deal will increase Integro’s presence in Western Canada. Headquartered in New York, Integro is a portfolio investment of several U.S. private equity firms and investors, including aPriori Capital Partners, Weston Presidio, Century Capital Management and Cave Creek Capital.
PRESS RELEASE
Integro Acquires Canada’s Finning Insurance Services
New York, NY and Vancouver, BC (December 8, 2014) – International insurance brokerage and risk management firm Integro today announced it has acquired the assets of Finning Insurance Services (“FIS”), an insurance broking business, from Finning International Inc. (“Finning”). Financial details of the transaction were not disclosed.
Since its founding in 1988, Finning Insurance Services has created a successful specialty brokerage firm servicing Finning Canada’s clients with a focus on delivering heavy equipment insurance solutions.
FIS is headquartered in Vancouver and has staff in Edmonton and Kamloops.
The FIS team, led by Kris Halldorson, Todd Getz and Charlene Almic, has joined Integro Canada.
“We are excited about our new partnership. It creates tremendous possibilities to expand our presence in Western Canada, both in terms of product offering and geographical presence,” said Mark Rankin, president of Integro Canada. “Integro’s operating culture aligns perfectly with that of the FIS team, further strengthening the strategic fit. Together, we will ensure our new clients continue to receive the same high level of service they have come to expect and enjoy.”
Commenting on the rationale for joining the Integro family of companies, Halldorson said, “The combination of our team’s specialty product knowledge, relationships and expertise, together with Integro’s broad insurance resources, global distribution channels, market reach and IT capabilities, will create a tremendous platform to target a much broader and deeper spectrum of opportunities.”
About Integro (Canada) Ltd.
Established in 2005, Integro Canada provides commercial clients, from coast to coast, with solutions to complex risk challenges from its offices in Montreal, Toronto and Vancouver. The firm offers a broad array of brokerage services with specialties in Mining, Manufacturing, Construction, Marine, Real Estate and Recreational. Integro Canada is a division of Integro Insurance Brokers, an international insurance brokerage and risk management firm based in New York. Its Vancouver office is located at 777 Hornby Street, Suite 1460, Vancouver, BC V6Z 1S4, phone 604.608.6182.
About Integro
Integro is an insurance brokerage and risk management firm. Clients credit Integro’s superior technical abilities and creative, collaborative work style for securing superior program results and pricing. The firm’s acknowledged capabilities in brokerage, risk analytics and claims are rewriting industry standards for service and quality. Launched in 2005, Integro and its family of specialty insurance and reinsurance companies, some having served clients for more than 150 years, operate from offices in the United States, Canada, Bermuda and the United Kingdom. Its U.S. headquarter office is located at 1 State Street Plaza, 9th Floor, New York, NY 10004. 1-877-688-8701. www.integrogroup.com
Editorial Contact:
Betsy Van Alstyne
Integro
Tel: 212-295-5445
betsy.vanalstyne@integrogroup.com
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