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Vertical Group acquires Axis Insurance Managers
The acquisition will expand the Vertical Group’s position in the Canadian market.
Staff on November 9, 2016
Vertical Insurance Group Ltd., owners of Shaw Sabey, Metrix, Core, Magnes, LMG and other retail insurance brokerage businesses, 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.
Vertical Group acquires Axis Insurance Managers
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