Canada’s Axis Insurance Acquires Calgary-Based Fuse Insurance

Axis Insurance Managers Inc., the Vancouver, Canada-based insurance broker, announced the acquisition of Fuse Insurance, a Calgary-based, technology-driven commercial insurance brokerage.

Founded in 2017, Fuse has built a strong reputation for managing complex risks in industries such as ecommerce, healthcare, and cannabis.

Financial details of the deal were not disclosed.

Axis Insurance said this acquisition strengthens its presence in Alberta and enhances its ability to deliver advanced risk management solutions. Fuse combines insurance expertise with software development to create one of Western Canada’s first fully digital commercial brokerages.

“The Fuse team and I are excited to join Axis Insurance and combine our digital capabilities with their national reach. We’re grateful to our insurers, partners, past employees, friends, family, and especially our clients for their support over the past 7.5 years,” according to Kevin Lea, co-founder of Fuse Insurance.

Lea will join Axis Insurance’s commercial sales team and collaborate with specialized practice groups to drive program development.

With roots dating back to 1928, Axis has grown into one of Canada’s leading brokerages, with over 350 employees. As a full-service brokerage, Axis specializes in personal insurance, commercial insurance, life and employee benefits, as well as wealth advisory services.

Source: Axis Insurance Managers

Topics
Mergers & Acquisitions
Canada