Canada’s Axis Insurance Acquires P/C Broker Baker Insurance

Vancouver, Canada-based insurance broker Axis Insurance Managers Inc. has announced the acquisition of Baker Insurance, a Calgary-based property/data brokerage.

Financial details of the transaction were not disclosed.

This strategic move strengthens Axis’ presence in the region and enhances its ability to provide expert risk management solutions, the company said.

Founded in 1976 and renamed Baker Insurance Ltd. following its acquisition by Ed Baker in 2006, the company specializes in complex risk management in the areas of corporate and private property insurance. Baker Insurance provides expert risk management and consulting services, including risk assessments, claims management and comprehensive operational analysis. In addition, the company offers specialized insurance solutions such as warranties and inland marine coverage.

Ed and Colin Baker lead the commercial lines division, while Shelley and Tara Baker focus on personal lines, providing comprehensive coverage for all customer needs.

With roots dating back to 1928 and over 300 employees, Axis Insurance has become a national brokerage leader and one of Canada’s fastest growing brokers, handling more than $380 million in written premiums. Axis specializes in commercial, life, employee benefits and wealth advisory services.

Source: Axis Insurance

TOPICS
M&A Agents Canada Property Casualty