Storm Insurance Group acquires Axxium Assurance Inc.

Dartmouth, NS (Nov. 12, 2019) – Storm Insurance Group (“Storm”) announced today that its employee ownership group has acquired Axxium Assurance Inc. (“Axxium”), of Montreal Quebec, effective November 1, 2019.

“Axxium is Storm’s first acquisition in Quebec; a strategic achievement towards our Vision 2020 strategy. This opportunity now makes us one of Canada’s few National Independent Insurance Brokers with full operations in all four regions; Atlantic, Quebec, Ontario and West.” says Jamie Reid, President.

With creative vision, focus on service excellence, and industry engagement, Sébastien Vaval, former owner of Axxium, has quickly built a reputable, successful brokerage since its establishment in 2009. Mr. Vaval was a former Board member of the Insurance Brokers Association of Quebec, and actively involved in insurance industry relations.

“We are incredibly fortunate to welcome Sébastien Vaval and the Axxium team to Storm. Sébastien’s entrepreneurial drive and ambition will be an asset to our group as we expand in Quebec and throughout the rest of Canada” says Mr. Reid.

Following November 1, Timothy Branson, Vice President Eastern Region, will lead the Quebec brokerage in partnership with Mr. Vaval. Together, they’ll focus on a targeted organic growth strategy, new distribution channels, and further acquisitions.

“We are proud to join the Storm Insurance Group after ten years of existence. This will allow Axxium Assurance to explore new opportunities while continuing its growth strategy. We will now have more tools, greater capabilities, and a broader range of services to offer our customers. With Storm, our personnel and, most importantly our loyal customers, we’re on the perfect track to implement our long term strategies.” says Sébastien Vaval.

This acquisition will be Storm’s third brokerage acquisition in 2019, having acquired Wardell Insurance (Burlington, ON) on January 1, 2019 and Sheppard Insurance Service (Edmonton, AB) on May 1, 2019. Since 2014, Storm Insurance Group has opened offices in Ontario and Alberta and made a number of other acquisitions in both provinces including Robert C. Davis Insurance of Waterdown, ON, and Robinson Insurance of Edmonton, AB. The latest will be their first acquisition in Quebec and will bring the group’s overall employee count to 95.

About Storm Insurance Group

The Storm Insurance Group is one of Canada’s largest and fastest growing employee owned independent insurance brokerages.
Ranked the #2 brokerage in Canada in the 2019 Insurance Business Canada (IBC) annual report, the Storm Insurance Group includes; A.P. Reid Insurance (Ontario/Atlantic), Agile Underwriting Solutions (MGA), Axxium Assurance (Quebec), ZipSure.ca (e-digital insurance), MyGroup Home and Auto Insurance (Group) and Sheppard Insurance (West).
An industry leader, Storm has been selected as a finalist in three categories for the 2019 IBC Awards: Brokerage of the Year (more than 10 employees), Employer of Choice and Digital Innovator of the Year.

For more information, visit www.stormins.ca.

Source: Storm Insurance Group

Tags: Acquisition, Storm Insurance GroupRead the original article at Insurance-Canada.ca