Markel takes full control of MGA Allsport Insurance in Canada

Specialist insurer Markel Canada has acquired the entire business of managing general agent (MGA) Allsport Insurance Marketing after recently buying the remaining 50 percent that it did not already own.

Following the deal, Allsport president Gina Bennett will become vice president of Markel’s western region.

The MGA was founded in 1987, and has been partly owned by Markel since 1997. Allsport specialises in providing insurance to Canadians for sport, leisure and recreation activities.

The move will expand Markel’s position in the west of Canada and reflect its’s growing focus on all parts of this attractive sector, the company said in a statement.

Karen Barkley, president of Markel Canada, said: "We have been working closely with Allsport for twenty years, we know the business and the people really well and so we are delighted that they are now part of our team. Together our strengths will create more opportunities for growth."

Bennett added: "Over the past 20 years, Markel Canada, formerly Elliott Special Risks, has been a shareholder of Allsport Insurance. We can now combine our strengths and operate under a single brand for the entire sector.

"We are excited to merge Allsport’s laser-focused expertise with Markel’s depth and capacity, creating a winning proposition for our brokers and policy holders. Markel’s people, culture, underwriting and products give Allsport truly national sales and operational presence."

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