The Co-operators Buys PremierBy Andrew Rickard | April 14 2015 10:24AM
The Co-operators has purchased the Premier underwriting agency.
In a statement released on April 10, Co-operators said that Premier's management team, including CEO Troy Moreira, will remain in place and that the company will continue to operate as an independent entity within The Co-operators group of companies.
Premier was established in 1989 and was a pioneer in pleasure craft insurance. It offers professional liability, environmental lines, construction risks, specialty casualty, general property, and specialty personal coverage. The Vancouver-based company has more than more than 100 employees in five offices in Canada and the United States. It administers more than 80,000 insurance policies, develops products in-house, and has a distribution network of 4,000 broker locations.
"We are committed to preserving Premier's nature as a managing underwriting agency, benefiting from strong relationships with domestic and international underwriting partners," says Kathy Bardswick, president and CEO of The Co-operators. "We're pleased that the management team will remain in place and will operate the company in its current structure, which will ensure the continuation of its productive partnerships with brokers, clients and staff. The deal will create new opportunities for future growth for both sides."