Collectivfide in the News
Collectivfide Insurance Group Inc. closes eleventh overall acquisition with majority stakes in Les Bell Insurance Brokers Inc.
March 5, 2024
Cambridge, ON: Collectivfide Insurance Group Inc. is pleased to announce the newest acquisition of Les Bell Insurance Brokers Inc., into the Collectivfide network. Located in Bracebridge, Ontario, this acquisition marks Collectivfide’s eleventh overall and first of 2024.
Collectivfide Insurance Group Inc. provides competitive advantages for locally owned insurance brokers by supporting brokerages in all facets of their operations, including underwriting, finance, human resources, data analytics, technology optimization, and marketing. Brokers partners maintain their autonomy, while getting the benefits of being part of a larger network. Several mutual insurance companies throughout Ontario and Canada founded Collectivfide in 2019.
Les Bell Insurance Brokers Inc. is an independent brokerage serving the Bracebridge and surrounding area and provides services like home, auto, and commercial insurance. Their motto of ‘more options, great service’ and values of putting their clients’ interests first align with Collectivfide’s own value system of community and client focus. When it came time for Laura Bell, owner, to look for a partner so that she could exit the business and she and her fellow employees could focus on the next chapter of their lives, she turned to Collectivfide.
“I wanted to ensure that our clients would be well taken care of and that our team and I had the flexibility to choose the succession plan and exit strategy that aligned with what we were looking for. Even though we will eventually be leaving the business, our business and clients are very important to us, and we wanted to respect our clients to ensure there was no disruption to their needs and the personal service they receive”, Laura Bell, Owner, explained.
Bell continued, ”Knowing that Collectivfide and their broker partners share the same values as us, that they also focus on their clients and put their interests first, is such a relief and removes any apprehension we could have had. We know we found a true partner for our team and clients who have made this transition as smooth and stress-free as possible.”
When asked what this acquisition means to the organization, Tony Ngo, President and CEO of Collectivfide Insurance Group, said, “We are proud to continue to support the broker distribution channel. This acquisition highlights the flexible succession options available to our broker partners, knowing that their businesses will continue to thrive into the future with the support not only of the Collectivfide staff, but also leverage the strength of our network of broker partners.”
Acquisitions and organic growth remain key to Collectivfide Insurance Group’s long-term growth strategy while further aligning itself with other like-minded broker partners. With this latest acquisition, Collectivfide Insurance Group Inc. has eleven broker partners and seventeen office locations across Ontario since its inception in 2019.
About Collectivfide Insurance Group Inc.
Formed in 2019, Collectivfide’s shareholders represent mutual insurance companies in Ontario and across Canada with more than a century-and-a-half of experience to draw upon. The company is committed to protecting the independent broker distribution channel. By working alongside broker partners, Collectivfide supports brokerages with all facets of their operations to help them focus on serving and building relationships with members of the communities they serve. At Collectivfide, we operate under the principle that mutual insurers and their broker partners are stronger when they work together.
About Les Bell Insurance Brokers Inc.
Les Bell Insurance Brokers Inc. has provided personal service to the Bracebridge and surrounding area since 2018. The Bell family began in December 2001 as State Farm Agents, which they sold to Desjardins in 2016. They then left to become brokers and create Les Bell Insurance Brokers Inc. in 2018.
The Bell family has led the brokerage since its inception, providing home, auto, and commercial insurance.
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