One Insurance and BSI Insurance, both based in Manitoba, on June 27 announced their intention to merge operations, combining them into a single company with 28 branches in 26 different communities. “The new company would bring together two of the oldest and most respected insurance brokers in Manitoba, with more than 200 employees,” the companies state. They add that the merger “positions us for further growth and investment in the future as we will become the largest brokerage headquartered in Manitoba.”
The companies say they are uniquely well-suited to merge, one notable reason being that both have extensive branch networks that don’t currently overlap. Together the combined company will manage more than $200-million in annual sales.
Until the companies are operating under one brand, likely by early 2024, both will continue to operate under their existing brands while teams work to integrate operations. The company says the merger will enhance its ability to compete in the marketplace, citing the investment and scale needed for technology and service alone. Going forward the company will be led by president and CEO of ONE Insurance, Nicholas Rawluk. The merged company will also ultimately take on and assume the ONE Insurance brand.
