Specialty Program Group Canada (SPGC) will amalgamate with Totten Insurance Group Inc. and Anderson McTague & Associates Ltd., effective Jan. 1, 2025.
“This strategic merger will unite three powerhouse specialty insurance organizations under one umbrella, strengthening their ability to serve brokers and clients across Canada,” SPGC says in a press release Tuesday.
Upon completion of the merger, SPGC will have 500 employees across five underwriting brands and one claims management brand. Headquartered in Vancouver and Toronto, SPGC has local underwriters in all Canadian provinces.
This merger means SPGC will soon be the parent company of five managing general agent (MGA) brands delivering personal and commercial property and casualty insurance solutions to licensed insurance brokers across Canada: Cansure, i3 Underwriting Services, Beacon, Totten, and Anderson McTague. SPGC also manages Specialty Claims Canada, its claims management brand that provides access to 24/7 claims services.
Totten provides commercial P&C insurance with program and industry expertise, while Anderson McTague serves Atlantic Canada with commercial and personal insurance.
SPGC’s other P&C brands include Cansure, which delivers commercial insurance with broad industry expertise and is Canada’s largest construction insurance provider; i3 Underwriting Services, which provides commercial solutions for the upper-middle market and complex risk; and Beacon, which provides personal lines such as non-standard habitational insurance, boat, off-road vehicle, and special event liability.
SPGC also operates an online portal that delivers online rates, quotes, binds and issuances for various personal, commercial, and specialty products.
Two reasons for amalgamation
SPGC president and CEO Cameron Copeland tells Canadian Underwriter there are two reasons why now is the ideal time for amalgamation. First, the consolidation of customer brokers with national distribution operations requires companies to adopt a national approach to ensure consistent services across all provinces and territories. Second, as the market shifts from being supply-constrained to one of oversupply, it’s essential to offer increased service, operational efficiency, product innovation, and strong relationships.
“By amalgamating our operations, we will be better positioned to develop superior products while providing localized service and expertise on a national scale,” Copeland says.
CU also asked if any particular niche lines of business were of interest.
Both Totten and Anderson McTague boast considerable strengths across various sectors, including real estate, hospitality, professional services, manufacturing, construction and general contracting, Copeland says. But Totten brings extensive expertise in specialized areas such as roofing, protective services, environmental and restoration contracting, as well as mining, and snow removal contractors.
“Additionally, Totten enhances our capabilities with an experienced underwriting team and strong market relationships in Quebec,” Copeland says.
For its part, Anderson McTague & Associates — Canada’s oldest Lloyd’s coverholder brand — contributes valuable relationships, product knowledge, and underwriting services throughout Atlantic Canada.
“Together, these strengths create a powerful partnership to serve both national and local brokers.”
By integrating these teams, brokers will be able to access a wider array of niche insurance products through a single trusted partner relationship, SPGC says. Each brand will continue to operate with the same leadership and focus on marketplace niches, backed by the resilience and governance of a larger organization.
“The combined entity will continue each organization’s mission of addressing underserved niches, empowering brokers to offer enhanced solutions to their clients,” SPGC says in the press release. “This merger positions SPGC to remain at the forefront of specialty insurance in Canada, providing brokers with the capacity, expertise, and resources they need to thrive in an increasingly competitive market.”
Feature image by iStock.com/skynesher
