StoneRidge Insurance Brokers, which is backed by CIVC Partners, has acquired Generations Insurance, a Toronto-based insurance brokerage servicing Ontario. No financial terms were disclosed. Based in Ancaster, Ontario, SIP is a provider of insurance and consulting services.
ANCASTER, ON — SIB Corp., operating as StoneRidge Insurance Brokers (“SIB”), a leading independent provider of insurance and consulting services, whose platforms include an insurance brokerage, MGA/MGU, group benefits and an adjusting firm, has acquired Generations Insurance Inc. (“Generations”), to expand its personal and commercial insurance offerings.
Founded in 1999 and located in Scarborough, Generations is a founder owned and operated full-service insurance brokerage servicing Ontario. Generations provides a suite of personal and commercial offerings with the goal of providing the information and products needed for a customer to make informed decisions at competitive prices.
“We are excited to pass along ownership of Generations to SIB, who we believe will be able to continue understanding our customers’ needs and offer competitive premiums to achieve the right solution,” said Claire Munro, Vicki Van Santen and Tracey Long, Generations’ three Founding Partners.
“SIB has completed two transactions so far in 2022, with another two transactions expected to close in the coming months” said Ted Puccini, SIB’s CEO and President.
Generations is the tenth investment that SIB has made since partnering with CIVC Partners, LP, a private equity firm (www.civc.com), in November 2019. SIB continues to actively seek additional partnership opportunities and is committed to growing organically and through partnership investments across Canada and is actively seeking partnership/acquisition opportunities.
Headquartered in Ancaster, Ontario, with 34 locations, StoneRidge is a leading independent insurance brokerage, MGA/MGU, and adjuster and has been providing a full range of insurance, risk advisory, life and benefits services to businesses, associations and individuals since 1945. For more information on SIB’s partnership and investment approach, please visit www.stoneridgeinsurance.ca/partnerplatform.