A.P. Reid Insurance to acquire Ontario-based Brokerage
- October 15, 2018
A.P. Reid Insurance to acquire Wardell Insurance Limited, Burlington ON
Dartmouth, NS -- A.P. Reid Insurance Limited, a 2018 Insurance Business Canada Broker of the Year finalist, announced its intention to acquire Wardell Insurance Limited of Burlington, ON, effective January 1, 2019. The employees of Wardell Insurance will join the A.P Reid Insurance Ontario team. After assisting with the transition, business partners and owners Steve Pinnington and Bruce Russell will retire from the business.
This move is the latest step in A.P. Reid’s national strategic expansion plan. Since 2014, they have acquired Robert C. Davis Insurance in Ontario and have made four acquisitions in Alberta, including the commercial and specialty insurance broker Robinson Insurance. A.P. Reid is planning other acquisitions across the country throughout 2019 and 2020.
“It has been a pleasure and honour to have been able to serve our clients in the capacity that we have. We are looking forward to this next chapter of our lives and are confident A.P. Reid will carry on the legacy,” said long time business partners Steve Pinnington and Bruce Russell. “As a long standing broker, our core values are integrity and a focus on customer service. It’s clear that A.P. Reid’s Service First mandate and passion for their customers are a natural fit for our two companies. The breadth, longevity and fitness of the A.P. Reid national operation will enable our brokers to offer more choices and even better services to our clients.”
Following the completion of the transaction, Wardell’s Burlington office and A.P. Reid’s office in Waterdown, ON will merge into a new location to fit the growing team. The entire Wardell team are expected to remain with the newly merged office to service their valued clients.
Wardell Insurance Limited is a well-known and respected personal and commercial lines insurance brokerage based in Burlington with clients throughout Ontario. Wardell’s roots date back to 1922 operating originally from a dry goods store on Brant Street where the insurance brokerage was started by Harry Wardell. Following Harry’s retirement, he was succeeded by Murray Pettit and Steve’s father Jim Pinnington who manned the helm at Wardell Insurance until 1999.
“We are very excited for the opportunity to have the Wardell team join our firm,” said Jamie Reid, President and CEO of A.P. Reid. “Their expertise in high-touch services for their personal and commercial clients, with a special focus on VIP clientele, will integrate well with our Commercial and Group specialities.”