Western Canadian insurance brokerages, CapriCMW, based in British Columbia, and Alberta-based Rogers Insurance, announced they have officially merged operations to become Acera Insurance.
The new entity will have 1,000 employees in more than 50 offices across Alberta, British Columbia, Ontario and the Yukon. The two companies have reportedly maintained a collaborative relationship for more than 20 years prior to the merger announced September 20.
The firm utilizes an employee share ownership model that the company says is integral to the success of both companies and will remain a central part of ongoing plans for attracting and retaining talent. Of the 1,000 employed by the firm, there are approximately 350 employee shareholders.
Clairvest Group Inc., together with Clairvest Equity Partners, is a minority partner in the deal, investing $100-million to support the merger and recapitalization of the two companies, Clairvest said in a statement.
“The merger and recapitalization supported by Clairvest will accelerate our investments in people, processes and technology. Our goal is to become the independent Canadian insurance brokerage of choice for clients, carriers and employees,” chairman and president of Acera Insurance, Andrew Kemp said in a statement announcing the merger.
Going forward the firms together will continue to focus on providing custom insurance, risk management and group benefits solutions.
