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A name synonymous with insurance in Brantford for more than a century soon will fade into the history books.
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Bunnell Hitchon Insurance Brokers, with locations in Brantford and Milton, Ont., Has been acquired by Westland Insurance Group Ltd., which is based in Surrey, BC
Bunnell Hitchon president Tony Silva said the name will remain for now but will transition to Westland for branding reasons.
“That is one of the saddest parts in regards to this,” Silva said. “The name has been part of the community for so long.
“For us, it’s bittersweet.”
Jamie Lyons, Westland’s president and chief operating officer, said the acquisition is part of his company’s plan to go national.
“Bunnell Hitchon represents a tremendous cornerstone acquisition for us in Ontario, a market fundamental to our growth strategy,” said Lyons. “Bunnell Hitchon is a highly respected independent brokerage that enjoys a stellar reputation, outstanding leadership and an enviable history of client service.”
Bunnell Hitchon was formed in 1890 when Arthur K. Bunnell first placed business on the books of the Economical Mutual Fire Insurance Co. In 1920, there was a merger with a company owned by AG Hitchon to become Bunnell Hitchon Hendry Ltd.
The company became Bunnell Hitchon Ltd. in 1942 and, 18 years later, Arnold Hitchon and his three sons purchased the Bunnell interests.
Further acquisitions included Sydney B. Spiegel Insurance Brokers in 1994, and Campbell Insurance Brokers Ltd. in 1996.
In 1988, the ownership and corporate structure of Bunnell Hitchon changed, with William Davidson becoming president.
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“Tony and I bought the business from Bill Davidson in 2012, along with Main and Muldoon (a Brantford firm), and Miltowne Insurance in Milton,” said executive vice-president Mike Moore, crediting Davidson for giving him and Silva their start, and advising them on the sale to Westland.
Silva described Westland as a “huge broker” in western Canada, whose desire to be a national broker resulted in the need for a larger presence in Ontario.
“In today’s world, where a lot of brokers are actually owned by insurance companies, we are 100 per cent independent,” Silva noted. “The big attraction for us is that Westland is also independent.”
He said Bunnell Hitchon is proud of its long history of serving the community.
“We still love the face-to-face clients, meeting with them and reviewing policies,” said Silva. “When you deal with our office, you’re assigned a broker and that’s who you deal with. That kind of service counts for a lot. ”
Bunnell Hitchon employs 24 staff at its Brantford office at 195 Henry St. and three in Milton.
Silva and Moore will remain with the company, though their titles have yet to be determined.
Silva noted that, with a strong management team in place at Bunnell Hitchon, Westland isn’t looking to change things.
“We should have more (and) greater opportunities for our staff and our operations here in Brantford.”
Larger companies acquired other family-operated insurance businesses in the Brantford area in recent years.
Neziol Insurance Group joined Brokerlink in 2014, while The Dorsey Group, with a third generation of family members in the operation, was acquired by HUB International in 2013.