An Ottawa-based insurance brokerage dedicated to serving First Nations clients has been acquired by a U.S. company.
California-based insurance provider Tribal First said earlier this month it has acquired AFN Insurance Brokerage. Terms of the transaction were not disclosed.
Founded in 1988, AFN offers home and business insurance, risk management, consulting and employee benefits. Headquartered in Ottawa, the company deals exclusively with First Nations customers using a network of retail broker partners across Canada.
When it’s time to increase prices, it can be a delicate subject, as businesses don’t want to alienate their customer base or appear opportunistic.
AFN principal Gil Saunders said the agreement creates a “powerful strategic alliance” with Tribal First, a division of Alliant Underwriting Solutions and the largest provider of insurance products to Tribal Nations south of the border.
“Tribal First’s large platform, strong market relationships and dedicated team of specialists will enable us to provide significant value and results to both our broker partners and First Nations clients,” he said in a news release. “Most importantly, Tribal First shares our core objective of designing and delivering customized solutions that are in the best interest of Canada’s First Nations.”
According to the news release, Saunders and his team will continue to work out of their west-end Ottawa office.