SIB discusses latest acquisition and year-end, 2026 plans

SIB Corp. (StoneRidge Insurance Brokers) has expanded its presence in the Greater Toronto Area with the acquisition of Coreservice Insurance Brokers Inc.

This is SIB’s fifth acquisition of 2025, and the brokerage expects another two transactions to close at the end of the year, SIB says in a press release last week. It also plans to ramp up its acquisitions in the new year.

Based in North York, Ont., Coreservice is a full-service brokerage that has built a reputation for dependable service, deep client relationship, and a commitment to responsive insurance solutions, SIB says. Coreservice offers auto, property, business, travel, life, and mortgage insurance, as well as RRSP (registered retirement savings plans) and group benefit plans, according to its website.

“Kevin Choi and Halim Lee have grown the brokerage into a trusted advisor for clients seeking a personalized service experience and will remain in leadership roles throughout a gradual transition period,” SIB says in the release. “This acquisition further expands SIB’s presence in the Greater Toronto Area and enhances its ability to serve a growing and diverse client base across both personal and commercial lines.”

When asked what was attractive about the deal, SIB president & CEO Ted Puccini tells Canadian Underwriter, “Coreservice really matched our composition of business with a strong personal lines book complimented with long standing commercial relationships.”

SIB expects to close two additional transactions by year-end, “providing strong momentum as we head into 2026,” Puccini adds. “One of the transactions will expand our footprint geographically and the other is an investment outside of our traditional P&C operation but will give us a further value-add and additional competitive tool to enhance the SIB client experience.” 

Other 2025 deals

SIB’s four other acquisitions this year include SSY Marathon Insurance Brokers Inc., K.O. Bartholomew & Son Inc., Ron Johnston Insurance Ltd., and Buckler Insurance Service Ltd. (the Marathon Insurance Group of Companies). The brokerages have served the Ontario communities of Richmond Hill and Orillia for more than 30 years.

SIB also launched a joint venture office in 2025. “This is a commercial broker that serves as the largest dedicated transportation-focused broker in the Maritimes,” Puccini tells CU. “The Palmer family have been advising and supporting the Maritime transportation community for decades.”

In September, SIB announced a new location, partnering with Joe Palmer and Hilary Palmer and their Hartland, N.B. office. The Palmers serve as managing partners of North Branch Insurance, a division of SIB Corp.

With between $1.2 billion and $1.5 billion in gross written premium, SIB operates out of more than 150 offices across Canada. “SIB is actively seeking additional acquisition, partnership and affiliate brokerage opportunities in Canada,” the brokerage adds in the release.

Puccini tells CU the brokerage has just hired a new executive vice president of corporate development, who starts in January. “Our goal will be to take the number of acquisitions from seven up to twenty to thirty in 2026 and across a broader geographic area, as well as finding acquisition opportunities that expand the depth of our product(s) and service(s).”

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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.