Westland Insurance ups partnership with Blackstone to C$1.4 billion

By William Gullotti

Buffalo, N.Y., Dec. 13 – Westland Insurance Group announced that it has received an additional C$200 million commitment from Blackstone Credit, which increases its aggregate investment to C$1.4 billion, according to a press release on Tuesday.

The announced increase includes an undrawn debt facility to enable strategic acquisitions.

“The global scale and resources that this partnership brings further strengthens our ability to diversify our platform by vertical, service offering, and geography,” said Jamie Lyons, president and chief operating officer of Westland, in the release.

Michael Carruthers, a senior managing director at Blackstone, said, “We are pleased to further scale our partnership, bringing the resources of our global platform to bear as Westland expands upon its product offering to better serve new and existing customers.”

The expansion marks the third such investment by Blackstone in Westland since January 2021.

In 2022, Westland completed over 26 acquisitions across Canada.

Westland Insurance is one of the largest and fastest-growing independent insurance brokers in Canada.

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