One of Ottawa’s largest insurance firms has merged with another local brokerage, continuing an M&A spree that has seen it acquire several competitors in the past few years.
Rhodes & Williams announced Wednesday it is absorbing Ottawa brokerage Caiger-Watson Insurance Brokers into its group of affiliated companies. Caiger-Watson will keep its name and continue to operate out of its current office at 737 Ridgewood Ave.
Financial terms of the deal were not disclosed.
“Deciding to merge our business wasn’t easy,” Caiger-Watson president Phil Caiger-Watson said in a statement. “I have every confidence that the clients are in good hands and will continue to receive the professional, friendly service that they have come to expect.”
Founded in 1961, Caiger-Watson provides life, property, travel and vehicle insurance services. Rhodes & Williams, meanwhile, is the city’s third-largest brokerage with 71 local employees, according to OBJ’s 2017 Book of Lists.
“We are delighted with this opportunity to continue the legacy of service towards the Caiger-Watson clients,” Cory Young, chief operating officer of Rhodes & Williams, said in a statement.
Rhodes & Williams has been in business for 83 years and has recently grown substantially through acquisitions. Among the local brokerages it has added to its stable of associated companies in the past few years are Cleary & Associates, Eric Mclean Insurance Brokers and S.M. Hill Insurance.