Ontario Teachers’ Pension Plan, a global investor with net assets of $247.2 billion, has partnered with Westland Insurance Group, an independent insurance broker located in Canada.
With this partnership, Westland looks to reinforce its commitment to supporting Canadian businesses and communities and plans to continue its expansion across the country. The investment will be through BroadStreet Partners Inc., Ontario Teachers’ financial platform for investing in insurance distribution. Ontario Teachers’ and BroadStreet complement Westland’s existing shareholder base, which includes the founding Wubs family, who will retain a significant stake in the company. Operational control will remain with the Wubs and management following the transaction.
“This partnership provides us with the capital needed to continue investing in our business and delivering market-leading insurance solutions to more Canadians,” states Jamie Lyons, president and CEO of Westland Insurance. “With the support of Ontario Teachers’ and BroadStreet, we’ll further expand Westland’s presence coast-to-coast and continue our journey to become Canada’s favorite insurance broker.”