New Merger Creates Largest Independent Insurance Brokerage in Atlantic Canada
Two Long-Standing, Employee-Owned Brokerages Join Forces to Create Largest Independent Insurance Brokerage in Atlantic Canada
St. John’s, NL (Jan. 8, 2025) – Cal LeGrow Insurance and Financial Group (Cal LeGrow) and MacLeod Lorway Financial Group Limited (MacLeod Lorway) are merging to create the largest independent insurance broker in Atlantic Canada with more than $130 Million in combined premium volume.
“In a period of rapid consolidation which has seen private equity firms and aggregators gobbling up independent brokers, we decided to do things differently. Our teams are no strangers – we have known and admired each other for years and this was not a quick deal between strangers.” says Jeff LeGrow, who will serve as CEO for the combined entity.
Adds LeGrow, “This merger earns us an even bigger seat at the table with insurance carriers which means we can deliver even better solutions for our clients throughout Atlantic Canada.”
Stuart Macleod, President and CEO of MacLeod Lorway adds, “I have known Jeff LeGrow for over 30 years, and we have a shared belief in remaining fiercely independent. This model gives us the combination of people, talent and scale that will allow us to grow significantly within Atlantic Canada. I will continue as an executive advisor and shareholder and remain a fixture in our Sydney office.”
He adds, “We are excited about the opportunities that lie ahead and look forward to delivering even greater value to our customers and stakeholders. This collaboration represents a significant milestone for both organizations and will allow us to leverage our combined strengths to drive innovation and growth in our industry.”
The brands and operations for each brokerage will remain unchanged. Cal LeGrow and MacLeod Lorway are well-known and trusted in their respective provinces, so when it comes to all employees and clients, it remains business as usual.
About Cal LeGrow Insurance and Financial Group
Cal LeGrow, which was founded in 1984, employs over 70 employees across five locations in Newfoundland and Labrador and places over $66 million in premiums annually. One in four businesses in Newfoundland and Labrador partner with Cal LeGrow as their commercial insurance advisor. Cal LeGrow also has a financial services division dedicated to Group Benefits, investments and mortgages. The Cal LeGrow Foundation is a registered charity and has donated over $420,000 to youth-at-risk groups in the province. For more information, please visit callegrow.com.
About MacLeod Lorway Insurance
MacLeod Lorway was founded in 1976 and employs over 80 people across nine locations in Nova Scotia. They manage over $63 million in premium volume annually across a range of insurance solutions for individuals and businesses, such as auto, home, specialty commercial insurance. MacLeod Lorway is well-known for their commitment to the communities in which they live and work and over the past five years, have donated more than $400,000 across the province. For more information, please visit www.macleodlorway.com.
SOURCE: Cal LeGrow & MacLeod Lorway
Tags: Atlantic Canada, Cal LeGrow, MacLeod Lorway, merger, Mergers & Acquisitions