Parties
Company
Rogers Insurance Ltd.
Company
CapriCMW
On September 20, 2022, CapriCMW and Rogers Insurance announced their merger, forming Acera Insurance, a significant consolidation in the Canadian insurance sector. The merger unites two independent, award-winning, employee-controlled companies, creating a powerhouse with 1,000 employees across over 50 offices in Alberta, BC, Ontario, and the Yukon, and managing $1 billion in gross written premium. This positions Acera as a major national insurance brokerage with strong community ties.
Named Acera, inspired by the Maple tree genus "Acer," the name reflects the new entity's strength and honors the legacy and values of both companies. This merger signifies a strategic expansion nationwide.
The leadership team, with Andrew Kemp as Chairman and President, Lee Rogers as CEO, and Bruce Rabik as COO, maintains its focus on an exceptional workplace culture, recognized by over 33 awards. The merger builds on a nearly 20-year collaboration between the companies, aiming for increased scale and capacity. Over 350 employee shareholders emphasize the continued significance of the employee share ownership model.
Clairvest joins as a minority partner, supporting Acera's independent, employee-controlled structure for sustainable growth. Acera's future strategy involves collaborating with Canadian brokerages that align with their values and culture, offering an alternative to the traditional acquisition model in the industry.
CEOs Lee Rogers and Andrew Kemp emphasized the merger's role in enhancing industry leadership, expanding portfolios, and changing Canadian perceptions of insurance, while focusing on growth and new offerings.
Deal Type
Merger & AcquisitionIndustry
Banking/FinanceTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
20 September 2022