Westland Insurance Group, an independent property and casualty insurance broker, has extended its collaboration with Blackstone Credit.
Since its preliminary investment in 2021, Blackstone has devoted more than USD 1.2 billion to underpin Westland Insurance’s progression, which is inclusive of a facility devoted to financing the firm’s take over strategy blueprint.
The firm has extended into commercial property and casualty domains with the most recent acquisitions of Bunnell Hitchon Insurance Brokers and Tredd Insurance Brokers (Ontario-based brokerages).
Westland Insurance has also matured its presence with big-time takeovers like MBS Insurance Brokers and Reider Insurance in 2021.
CEO of Westland Insurance, Jason Wubs, stated that the firm’s collaboration with Blackstone Credit, which brings vast resources and deep expertise in the insurance sector, has provided them with a competitive edge and allowed the firm to significantly steer its growth strategy, whilst remaining a family-possessed business.
“We are ecstatic to extend our relationship with the Blackstone team, which will underpin our aim of emerging as Canada’s pioneering independent insurance brokerage.”
Jason Wubs, CEO at Westland Insurance
The CEO stated that they were ecstatic to extend their relationship with the Blackstone team, which would underpin their aim of emerging as Canada’s pioneering independent insurance brokerage, whilst meaningfully investing in their employees, clients, and ultimately the entire community.
Senior Managing Director at Blackstone Credit, Michael Carruthers, based in Toronto stated that the Westland Insurance team had fabricated an excellent insurance business enterprise, which has matured from a regional player to a pioneering national broker, whilst remaining deeply committed to every local community it delivers to.
“We are excited to extend our collaboration and assistance to crucial future growth which would fortify Westland Insurance’s distribution offerings.”
Michael Carruthers, Senior Managing Director at Blackstone Credit
The Senior Managing Director stated they were excited to extend their collaboration and assistance to crucial future growth, inclusive of takeovers, which would fortify Westland Insurance’s distribution offerings throughout the commercial, home, auto, and other specific insurance products.
About Westland Insurance
The Westland Insurance Group is one of Canada’s biggest and fastest-maturing independent property and casualty insurance brokers. The firm delivers personal and commercial insurance projects to its consumers. With a domestic network of around 195 locations and with more than 2,100 employees, the firm strives to extend its services coast to coast.
About Blackstone
Blackstone is one of the globe’s biggest alternative asset managers. The firm strives to fabricate positive economic impact and long-tenure worth for their investors, the firms they invest in, and the communities in which they operate. The firm strives to accomplish this by encompassing extraordinary people and versatile capital to assist firms to solve challenges. The firm’s USD 731 billion in assets under management are inclusive of investment vehicles that concentrate on real estate, private equity, public debt and equity, infrastructure, growth equity, life sciences, non-investment grade credit, secondary funds, and real assets, all on an international standard.