By: Luke Jones, Published on June 29, 2017 01:06 PM, Last Update on June 29, 2017 10:08 AM
Gore Mutual Insurance has announced an agreement to acquire Howard Noble Insurance Limited, the company announced today.
In a press release, the insurer says the purchase is part of its plans to support modern brokers, consolidate, and “enable investments in digital and in-store customer experiences”.
Howard Noble Insurance Limited is a brokerage based in Georgian Bay and Simcoe County, Ontario.
"Gore Mutual has a long history of supporting insurance brokers in communities across Ontario, and this investment reflects our ongoing commitment to the channel as a modern mutual company," said Gore Mutual President and CEO, Heidi Sevcik. "Today's announcement will ensure that Noble Insurance remains a trusted, local broker providing great solutions to customers from a wide range of insurers."
Once the acquisition has been finalized, Noble will come under the parentage of Gore Mutual, but will continue to operate as an independent brokerage at its Collingwood, Barrie, and Alliston locations. Its other locations in St. Clair, Windsor, and Jamieson Hilts in Woodstock will also continue separately under the Howard Noble brand.
Paul Jackson, vice-president of distribution at Gore Mutual, said: "We believe there is a bright future for the next generation of modern brokers. We are developing new alliances to enable investments in digital and in-store customer experiences, recognizing that some brokers have new models of ownership while others are fiercely independent. We continue to stand shoulder to shoulder with brokers of all kinds."
Post transaction, Shelley Vermeersch will become managing director and lead Noble Insurance.
"I'm very proud of Noble Insurance and excited to lead the business into this exciting new phase, investing in technology, marketing and new solutions for our clients," said Vermeersch.
Vermeersch will replace outgoing Noble Insurance president, Wayne Noble, who will be retiring:
“Gore Mutual is a great Canadian company with strong links to our community in Collingwood,” Nobile said. “The Gore Mutual Foundation has supported the General & Marine Hospital Foundation, the Georgian Triangle Hospice Foundation and My Friend's House. They were our first insurance company contract in 1946, and I'm looking forward to seeing Noble Insurance grow in alliance with Gore Mutual."