Axis Insurance Managers, a Vancouver, BC, Canada-based company providing strategic advice and solutions for businesses and personal risks, acquired The Magnes Group Inc., an independent insurance brokerage.
Axis Insurance made its initial investment in Magnes in 2015.
The amount of the deal was not disclosed.
Founded in 1933 and led by CEO and President Andy Sloan, Magnes is an independent insurance brokerage with over 100 staff across three offices in Oakville, ON, North York, ON and Longueuil, QC. Its team specializes in commercial insurance, personal insurance, and life and employee benefits.
Established in 2010 and led by Alex Meier, President and CEO, Axis Insurance analyses business and personal risks, providing strategic advice and solutions that are designed to mitigate, reduce, or effectively transfer risk. With a commitment to client service, the company extends its expertise and support both locally and internationally. It has a team of over 300 professionals with a presence across Canada.
Commenting on the news, Alex Meier said: “Magnes is recognized for delivering a high level of knowledge, expertise and tailored solutions to their clients. They will bolster our expertise in Commercial, Personal, and Life & Benefits insurance solutions, provide a greater geographic reach for our platform, and solidify our position as a national brokerage leader, distinguished by robust specialty practice groups. We are excited to welcome the Magnes team to Axis.”
FinSMEs
27/05/2024