expand its personal and commercial insurance offerings. The financial details of the transaction were not disclosed.
Based in Ancaster, Ontario, SIB has been serving businesses and people with a broad variety of insurance, risk consulting, life, and benefits services since 1945. SIB’s personal and business insurance products will be expanded by the acquisition of Generations, which is a founder-owned and runned organization established in 1999.
The three founding partners of Generations, Claire Munro, Vicki Van Santen and Tracey Long, expressed delight over the partnership. They said, “We are excited to pass along ownership of Generations to SIB, who we believe will be able to continue understanding our customers’ needs and offer competitive premiums to achieve the right solution”.
Generations is SIB’s 10th investment since its November 2019 collaboration with private equity company CIVC Partners, LP. This is SIB’s second deal in 2022. According to Ted Puccini, President and CEO of SIB, additional two transactions are scheduled to conclude in the near future. Generations offers a suite of personal and commercial products with the focus of providing the information and products needed for a client to make informed decisions at competitive prices.
With 34 locations across the nation, StoneRidge’s platforms include an independent insurance brokerage, an MGA/MGU, and an adjuster. According to SIB, it is aggressively pursuing collaboration and acquisition possibilities throughout Canada, while continuing to focus on organic development.
