MD Marine Insurance has taken another step to grow its presence in the Ontario market. The company announced that it has acquired 100 percent of the shares from McMichael-Davis Marine Insurance Ltd in Oakville, Ontario.
"As our business in Ontario has continued to grow we were looking for the right strategic next steps to compliment our team, our systems and our national brand,' says Sylvain Tisi, Executive Vice President of MD Marine. "When Scott McMichael first approached us about his desire to sell, we took the time to carefully explore their business and soon realized they were a perfect fit.'
MD Marine says its team is now integrating the new business into its existing operations and promises to provide its new clients the level of service that its current MD clients receive.
MD Marine previously announced the acquisition of MGL Assurance in Quebec as well as the brand's expansion into the British Columbia marketplace. This latest acquisition strengthens the position in Ontario and compliments MD Marine's growth plan in the recreational marine insurance industry.
MD Marine Insurance, headquartered in Orillia, Ontario, also has locations in Vancouver, Calgary and Montreal.