Insurance Distribution

Gore Mutual Insurance Company to Acquire Howard Noble Insurance Limited

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Highlights

  • Gore Mutual has agreed to purchase Howard Noble Insurance Limited
  • Noble Insurance will continue to operate independently and provide products from a wide range of insurers
  • Transaction reflects Gore Mutual's commitment to developing the broker distribution network as its only route to customers
  • Gore Mutual continues to stand shoulder to shoulder with brokers, investing in modernization through new models of ownership, partnership and cooperation

Cambridge, ON (June 29, 2017) – Gore Mutual Insurance Company has agreed to acquire Howard Noble Insurance Limited ("Noble Insurance"), a leading regional broker in Georgian Bay and Simcoe County.

"Gore Mutual has a long history of supporting insurance brokers in communities across Ontario, and this investment reflects our ongoing commitment to the channel as a modern mutual company," said Gore Mutual President and CEO, Heidi Sevcik. "Today's announcement will ensure that Noble Insurance remains a trusted, local broker providing great solutions to customers from a wide range of insurers."

Sevcik noted that Noble Insurance will continue to operate in Collingwood, Barrie and Alliston, separately from Gore Mutual and its other owned brokerages, St. Clair in Windsor and Jamieson Hilts in Woodstock. Sevcik also said that Gore Mutual makes investments in brokers that include financing, private equity and full ownership, reinforcing the company's commitment to the future of brokers through strategic alliances.

"We believe there is a bright future for the next generation of modern brokers," said Gore Mutual Vice President Distribution, Paul Jackson. "We are developing new alliances to enable investments in digital and in-store customer experiences, recognizing that some brokers have new models of ownership while others are fiercely independent. We continue to stand shoulder to shoulder with brokers of all kinds."

Aligned with Gore Mutual's focus on developing talent within the brokerage network, the company has announced that Shelley Vermeersch will assume leadership of Noble Insurance as Managing Director. She's a 25-year veteran with Noble Insurance and brings extensive experience and relationships to the role.

Shelley Vermeersch commented, "I'm very proud of Noble Insurance and excited to lead the business into this exciting new phase, investing in technology, marketing and new solutions for our clients."

"Gore Mutual is a great Canadian company with strong links to our community in Collingwood," said Wayne Noble, retiring President at Noble Insurance . "The Gore Mutual Foundation has supported the General & Marine Hospital Foundation, the Georgian Triangle Hospice Foundation and My Friend's House. They were our first insurance company contract in 1946, and I'm looking forward to seeing Noble Insurance grow in alliance with Gore Mutual."

About Noble Insurance

Established in 1945, Noble Insurance has a rich history of providing personal, business and farm insurance to customers in the Georgian Bay area. Based in Collingwood, the company is a recognized and trusted brand, with over 40 employees offering products from a wide range of general and specialty insurers through three branch locations.

About Gore Mutual

Founded in 1839, Gore Mutual is Canada's oldest property and casualty insurer, with over $410M in premiums and over $1BN in assets as of December 31, 2016. Based in Cambridge ON and Vancouver BC, this Canadian-owned and operated mutual company employs over 350 people and is known for its investment in people, technology and innovation. With a long standing commitment to genuine personal service, and with InsurTech partnerships such as BrokerLift, Gore Mutual is an unwavering supporter of its network of insurance brokers, who offer the highest standards of service, choice and advocacy to Canadian customers. Gore Mutual was voted the #1 insurance company by the Insurance Brokers Association of Ontario (IBAO) in 2014 and certified as a "Great Place to Work" in 2016. The Gore Mutual Foundation strengthens Canadian communities by supporting local initiatives and has donated more than $10M to over 650 charities.

SOURCE: Gore Mutual Insurance Company


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