Why McFarlan Rowlands acquired DA Kurt Insurance Brokers

Geographic and cultural fit drove London, Ont.-based McFarlan Rowlands‘s decision to acquire DA Kurt Insurance Brokers of Kitchener, Ont., McFarlan told Canadian Underwriter.

The deal is expected to close on April 30.

“The DA Kurt team prides themselves on providing professional advice and personalized service, which is something McFarlan Rowlands places great emphasis on as well,” Burke Neale, president and CEO of McFarlan Rowlands, said in an interview. “We look for brokerages that have values that align with our own.”

In particular, DA Kurt’s specialization in group insurance was especially appealing, Neale said. “Ultimately, we wanted to diversify our portfolio and remain relevant in today’s marketplace. We are always looking to diversify and expand our business.”

McFarlan Rowlands offers commercial, personal, life, disability, employee benefit plans and risk management services across southwestern Ontario. DA Kurt also offers personal and commercial insurance, specializing in group personal and auto insurance.

Neale said the two brokerages have been working together over the past six years, with McFarlan Rowlands providing customer service to DA Kurt. The Kitchener-based brokerage will operate as a division of McFarlan Rowlands and both brokerages plan to continue to operate under their own brands.

DA Kurt will continue to operate at its current location. Existing customers will see no change in their present insurance coverage, McFarlan Rowlands added in a press release.

No staff will be affected by the acquisition, Neale reported. Currently, McFarlan Rowlands has 142 staff and DA Kurt has 14.

Following the acquisition, DA Kurt will become McFarlan Rowlands’ 16^th branch in the province.