Latest acquisition for McDougall Insurance Brokers

McDougall Insurance Brokers Ltd. has acquired Stoney Creek, Ont.-based brokerage Annex Insurance Group Inc. The transaction took place through McDougall’s subsidiary, Duliban Insurance Brokers Ltd., and is the Pelham, Ont.-based firm’s first transaction since it joined McDougall last June.

“The Duliban team is thrilled to be joining forces with Annex Insurance,” says Jason Duliban, president of Duliban Insurance, in a press release. “This deal reflects our long-term growth strategy and strengthens our ability to enhance our commercial expertise while maintaining the relationship-driven approach both firms tremendously value.”

The release adds Annex Insurance is well respected for its commercial expertise and strong client relationships, which will bolster Duliban’s commercial offerings in the Niagara and Hamilton regions.

On the property and casualty insurance side, Annex offers commercial coverages, including errors and omissions, directors and officers, builders’ risk, commercial property, boiler and machinery, fleets, cyber, surety and more, according to its website. The brokerage also sells personal home, auto and recreational insurance.

“Duliban and Annex Insurance are each leaders in their geographies, and having the skill of Annex Insurance supported by the scale and efficiency of Duliban and the McDougall group will unquestionably be positive for the clients and staff on both sides of the deal,” Lorne McDougall, vice president of McDougall Insurance, says in the release.

Following the transaction, Annex’s managing director, Joe DelGuzzo, will remain actively involved with the organization, the release says.

“I went into this process thinking of my clients and staff first,” DelGuzzo adds. “I’m very excited to apply the scale and resources of Duliban and McDougall to assist and further the interests of my clients and staff.”

Phil Porado

Phil, an award-winning journalist with over 30 years of experience in financial topics, has been managing editor of Canadian Underwriter for more than three years.