Broker partners’ of CHES Special Risks learned the news via a statement, a copy of which was obtained by the Insurance Portal.
“We’re excited to announce that CHES Special Risks Inc. is now part of Totalis Program Underwriters (Totalis) in Seattle, Washington. This move aligns with our focus on continually enhancing the value we deliver to partners and clients across Canada,” reads the undated letter signed by Gary Hirst, CEO of CHES and now Senior Vice President at Totalis.
The acquisition of the Canadian managing general agent “represents Totalis’ first expansion outside of the U.S.,” it is specified.
Access to vast resources
“As part of Totalis, we now have access to vast resources and capabilities that will elevate our ability to solve problems and create opportunities for you, our Broker partner. Totalis operates 24 independently operated MGA businesses and maintains its own systems to ensure they remain an attractive partner for brokers and clients. As a result, Totalis (and their affiliate companies) is the trusted MGA for tens of thousands of brokers in North America. This independence was a critical factor in our decision to become part of the Totalis platform,” adds Hirst.
Totalis is described in the release as a “scaled and integrated platform providing specialized expertise and solutions for niche and underserved areas of the market.”
According to a statement dated Sept. 26, 2023, accessed by the Insurance Portal, Totalis was “introduced” by NFP, a property and casualty broker, benefits consultant, wealth manager, and retirement plan advisor, as “a new brand for its specialty program business..
In late April 2024, seven months after its launch, NFP was officially acquired by global brokerage giant Aon.
Neither company is mentioned in the release informing CHES’ broker partners of its acquisition by Totalis.
Insurance Portal notes that the Registraire des entreprises du Québec (Enterprise Registrar of Quebec, a province where CHES operates), was notified shortly after 2:00 p.m. on March 4, 2025, that NFP Insurance Services Corp. became the primary, majority shareholder of CHES.
CHES is now listed as being headquartered at “100 King Street West, Suite 5410 Toronto (Ontario) M5X1E1 Canada,” which is the Canadian head office address of NFP.
Since this update, the CHES board of directors includes four names: Lesley Munk, Vice President, Associate General Counsel, for the company's Canadian operations, and three other senior NFP executives in the U.S.: Veronica Moo, Edward O’Malley, and Brett Schneider.
