Axis Insurance acquires boutique commercial insurance brokerage

Brokerage Axis Insurance Managers Inc. has acquired Fuse Insurance, a Calgary-based, technology-driven commercial insurance brokerage.

“This acquisition strengthens Axis Insurance’s presence in Alberta and enhances its ability to deliver advanced risk management solutions,” Axis Insurance says in a press release Friday. “Fuse was founded on a unique vision, combining deep insurance expertise with software development to create one of Western Canada’s first fully digital commercial brokerages.”

Founded in 2017, Fuse is a boutique commercial insurance brokerage managing complex risks in industries such as ecommerce, healthcare and cannabis, among others.

Fuse Insurance co-founder Kevin Lea will join Axis Insurance’s commercial sales team and collaborate with specialized practice groups to drive program development. “The Fuse team and I are excited to join Axis Insurance and combine our digital capabilities with their national reach,” Lea says.

As a full-service brokerage, Axis Insurance specializes in personal insurance, commercial insurance, life and employee benefits, as well as wealth advisory services. With roots dating back to 1928, the brokerage has more than 350 employees, who are able to own equity in the firm. “The company’s growth has been driven by strategic acquisitions and strong organic expansion, supported by the success of 16 specialized practice groups,” the release says.

In September 2024, Axis Insurance announced the acquisition of Baker Insurance Ltd.

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Calgary-based Baker Insurance manages complex risks, specializing in both corporate and private asset insurance. The brokerage also offers specialized insurance solutions such as surety bonds and inland marine coverage.

The deal with Baker Insurance came on the heels of Axis Insurance’s acquisition of O’Neill Group, also last September. O’Neill Group is a Vancouver-based employee group benefits, life insurance and wealth advisory firm established in 1985.

Feature image by iStock.com/Gajus

Jason Contant

Jason has been an award-winning journalist with Canadian Underwriter for more than a decade, including the past three years as associate editor and, before that, as digital editor for seven years.