BroadStreet partners with Westland Insurance
Torys acted as counsel to BroadStreet and Ontario Teachers’ Pension Plan with a team led by Leah Frank and that included Stephen Neil, Adam Ibrahim, Stephanie Gurrieri and Erica Bird (corporate/M&A), Kelly Morris (insurance regulatory), Darryl Hiscocks (employment), Jerald Wortsman and Benjamin Mann (tax).
On April 17, 2023, BroadStreet Partners, Inc. (“BroadStreet”) entered into an agreement to partner with Westland Insurance Group Ltd. (“Westland”), one of the largest independent insurance brokers in Canada.
The transaction was completed on May 1, 2023.
Further information can be found on PR Newswire’s website.
Westland is one of the largest and fastest-growing independent insurance brokers in Canada, with a national presence of over 200 locations and more than 2,200 employees. Its brokers provide expertise and advisory-based services across commercial, personal, employee benefits, farm, and specialty insurance segments.
BroadStreet is an insurance brokerage holding company headquartered in Columbus, Ohio with partners operating across the United States. Its unique co-ownership model has created ownership opportunities for more than 450 agency professionals. Through the collective scale of its partners, BroadStreet is among the largest insurance brokerage holding companies in North America. Since 2012, BroadStreet's primary financial partner has been Ontario Teachers' Pension Plan Board (“Ontario Teachers'”).
Ontario Teachers' is a global investor with net assets of C$247.2 billion as at December 31, 2022. Ontario Teachers’ invests in more than 50 countries in a broad array of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth to deliver retirement income for 336,000 working members and pensioners.