The Co-operators has entered the home services line of business with the acquisition of the parent company of home inspection firm Carson Dunlop & Associates Ltd.
Co-operators Financial Services Limited, a wholly-owned subsidiary of The Co-operators Group Limited, announced the acquisition Thursday. It includes the commercial inspection firm Carson Dunlop Weldon & Associated Ltd., the U.S. franchise network National Property Inspections Inc. and Canadian franchise network GPI Franchise Corp. (collectively Carson Dunlop).
Carson Dunlop is a consulting engineering firm providing unbiased advice to help homeowners make better, more informed decisions about their homes, while also providing education and reporting software for the inspection profession. More than 200,000 inspections are performed annually across the Carson Dunlop platform, The Co-operators Group Limited says in a press release.
“The acquisition is a milestone for the Co-operators resiliency strategy, which seeks to catalyze more sustainable communities,” the insurer said. The Co-operators Group was the fourth largest P&C insurer in Canada in 2022, with a 6.42% market share and nearly $1.8 billion in net premiums written, according to Canadian Underwriter’s 2023 Stats Guide.
“Home services is a new business line at Co-operators, and one which is perfectly tied to our purpose,” Steve Phillips, executive vice president of emerging & adjacent business models at Co-operators, says in the release. He adds that the insurer’s combined capabilities with Carson Dunlop will provide an “unparalleled inspection experience,” and the home inspection firm is an excellent match for the insurer’s purpose, vision and values.
“Carson Dunlop will continue to operate as it does today, and clients can look forward to working with the same name they know and trust,” Co-operators says. Alan Carson, co-founder of Carson Dunlop, started the company 46 years ago with the idea of providing trusted, unbiased advice to existing and potential homeowners.
Craig Roswell, CEO of Carson Dunlop & Associates Ltd., adds the “Co-operators long-term vision uniquely positions us to effectively scale our network” and the partnership brings a wealth of experience, relationships and resources to drive growth and long-term value for stakeholders.
Feature image by iStock.com/Warchi
