FOR IMMEDIATE RELEASE
VANCOUVER, B.C., November 7, 2016 — Vertical Insurance Group Ltd., owners of Shaw Sabey, Metrix, Core, Magnes, LMG and other retail insurance brokerage businesses, is pleased to announce it has acquired the majority interest in the capital of Axis Insurance Managers Inc.
Alex Meier, Vertical Group President, will take the position of President at Axis Management. The acquisition will expand the Vertical Group’s position in the Canadian market.
Vertical is also pleased that most of the Axis employee partners continue as shareholders after the purchase.
“There is an excellent alignment of values and goals between our organizations. We feel this change will result in positive benefits for our stakeholders,” said Meier. “This strategic acquisition will allow both Axis and the other Vertical Group companies to enhance capabilities and continue to strengthen our offering to clients and our partnerships with insurers.”
“We’re excited to welcome an extremely high quality brokerage business with a great team to the Vertical Group family, and we’re looking forward to continuing the fine work that they’ve done in the past and expanding the franchise,” said Brad Shantz, Vertical Group CEO.
“The strength of the team depends on the individual players,” said Victor Montagliani, Vertical Group Senior Vice President. “The members we’re adding to our team share a strong dedication to our core values that has made the Vertical Group so successful.”
The Vertical Group will maintain the relationships to the markets that Axis has enjoyed, and will be reaching out to the markets in due course to discuss any affect this may have on their current trading arrangements.
President, Vertical Insurance Group Ltd. and Axis Insurance Management Inc.
CEO, Vertical Insurance Group Ltd.
Senior Vice President, Vertical Group Ltd.
About the Vertical Group
The Vertical Insurance Group, formed in 2010, is committed to delivering risk management solutions based on industry-specific expertise and a sound understanding of their clients’ operational requirements. Axis is the most recent Vertical Group acquisition; other companies in the Vertical Group family include Shaw Sabey, Metrix, Core, Magnes and LMG.
Axis Insurance Managers Inc. was established as a single location family business over 70 years ago, and incorporated in 1950. Axis’ team consists of a group of dedicated professional who have almost exclusively come from the ranks of the large International Brokerage Community. They focus on several specialty lines including mining and energy accounts, forestry, marine cargo/warehousing and distribution, E&O/D&O, financial institutions, real estate, food processing and hospitality.