Westland Insurance buys brokerage RiskTech Insurance Services

RiskTech Insurance Services is an Edmonton-based brokerage focused on large and mid-market commercial clients.

  • Westland’s acquisition deals are backed by Blackstone Credit
  • In December, Blackstone provided an additional $200 million commitment to the company, bringing its aggregate investment to date to $1.4 billion
  • As a result of the acquisition, Westland has named Douglas Morrow as its new vice president, commercial, Alberta

Westland Insurance, a Surrey, British Columbia-based property and casualty insurance brokerage, has acquired RiskTech Insurance Services, an Edmonton-based brokerage focused on large and mid-market commercial clients. No financial terms were disclosed.

“RiskTech is an extremely exciting acquisition for Westland as we continue to build upon and enhance our platform across Canada. The team brings a breadth of technical expertise to complex risks and cross-border insurance placements,” said Jamie Lyons, president & CEO of Westland, in a statement. “Douglas, Sean, Kent, and Jason are dynamic and skilled professionals who intimately understand and help mitigate the risks their clients face. We are delighted to welcome them to the Westland family.”

As a result of the acquisition, Westland has named Douglas Morrow as its new vice president, commercial, Alberta.

Founded in 1980, Westland said continues to invest in and grow its business in Canada, both organically and through strategic acquisitions.

Westland’s acquisition deals are backed by Blackstone Credit. In December, Blackstone provided an additional $200 million commitment, bringing its aggregate investment to date to $1.4 billion.