Axis Insurance Managers has expanded its operations in Canada through the acquisition of Baker Insurance, a Calgary-based property and casualty (P&C) brokerage.
Financial terms of the transaction remain undisclosed.
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This latest acquisition is set to strengthen Axis Insurance’s regional presence and bolster its risk management capabilities.
Baker Insurance, which was founded in 1976, was rebranded following Ed Baker’s acquisition in 2006.
It is known for managing complex risks, offering both corporate as well as private asset insurance.
The company’s specialised services include risk assessments, claims management, and comprehensive operational reviews, along with niche insurance solutions including inland marine coverage and surety bonds.
The leadership at Baker Insurance, with Ed and Colin Baker at the helm of commercial lines, brings expertise in handling challenging risks to Axis’ portfolio.
Established in 1928, Axis Insurance a workforce of more than 300.
It offers a full suite of services in commercial, life insurance, employee benefits, as well as wealth advisory.
The company said that its growth to more than $380m (£283.73m) in written premium has been propelled by 12 strategic acquisitions and the success of 16 specialised practice groups.
As per the information available on Axis Insurance’s website, the company consolidates a wide variety of understanding of local markets to deliver Canada region-specific advice, effective coverage strategies, as well as insurance solutions to its clients.
