M&A Deal Summary

Co-Operators General Insurance Acquires SEB

On January 3, 2023, Co-Operators General Insurance acquired insurance company SEB for 89M USD

Acquisition Highlights
  • This is Co-Operators General Insurance’s 10th transaction in the Insurance sector.
  • This is Co-Operators General Insurance’s largest (disclosed) transaction.
  • This is Co-Operators General Insurance’s 11th transaction in Canada.
  • This is Co-Operators General Insurance’s 6th transaction in Ontario.

M&A Deal Summary
Date 2023-01-03
Target SEB
Sector Insurance
Buyer(s) Co-Operators General Insurance
Deal Type Add-on Acquisition
Deal Value 89M USD
Advisor(s) Echelon Partners (Financial)
WeirFoulds (Legal)

Target

SEB

Mississauga, Ontario, Canada
website
SEB is an insurance broker and technology provider utilizing its fully integrated administration adjudication claims paying reporting software platform to provide “totally hosted PCI compliant modular solutions” for managing portions or all of the complete group benefits business processes between insurers, clients, brokers, consultants, technology service providers and healthcare service providers. SEB is based in Mississauga, Canada.

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Buyer(S) 1

Buyer

Co-Operators General Insurance

Guelph,, Ontario, Canada

website

Category Company
Sector Insurance
Employees2,382
DESCRIPTION

Co-Operators General Insurance Company is a Canadian owned and operated company with more than $38 billion in assets under administration. Company insure over two million people Canada-wide. Company are active corporate members of our communities, a catalyst for a sustainable society and a true home-grown champion with strong co-operative roots.

DEAL STATS #
Overall 11 of 12
Sector (Insurance) 10 of 11
Type (Add-on Acquisition) 10 of 11
State (Ontario) 6 of 6
Country (Canada) 11 of 12
Year (2023) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-04 Geosapiens

Quebec, Quebec, Canada

Geosapiens is specializing in flood risk modelling and analysis. Geosapiens was founded in 2017 and is based in Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-17 Assurances Oligny

Saint-Jean-sur-Richelieu, Quebec, Canada

Assurances Oligny is an insurance company that provides the sale and service of insurance for individuals and businesses. The company's services include car insurance, home insurance, agriculture insurance, recreation insurance, and business insurance. Assurances Oligny was formed in 1959 and is based in Saint-Jean-sur-Richelieu, Quebec.

Buy -
Mergr

Product

Company

Legal