CIVC Partners Portfolio Company StoneRidge Insurance Brokers Partners with Underwriters Alliance, Inc.
ANCASTER, ON — SIB Corp., operating as StoneRidge Insurance Brokers (“SIB”), a leading independent provider of insurance and consulting services, whose platforms include an insurance brokerage, MGA/MGU and an adjusting firm, has entered into a partnership with Underwriters Alliance, Inc. (“UAI”) to expand its service offering in group benefits and HR services.
Founded in 1997 and based in Hamilton, ON, UAI provides a comprehensive offering of employee benefits and human resource consulting solutions to businesses across Canada. Combining a commitment to practical approaches with a dedication to quality, UAI provides creative and pragmatic solutions to meet the needs of its clients. UAI will continue to be led by Robert Fedak, UAI’s Founder and President.
“StoneRidge’s customer-oriented culture and commitment to developing customized risk management solutions for businesses are perfectly aligned with UAI’s approach and we are excited to join the StoneRidge family,” said Robert Fedak.
“Robert and the UAI team bring more than 25 years of benefits and HR consulting expertise and will significantly enhance our benefits offering and expand the solutions that we are able to provide our commercial customers,” said Ted Puccini, SIB’s CEO and President.
UAI is the sixth investment that SIB has made since partnering with CIVC Partners, LP, a private equity firm (www.civc.com), in November 2019. SIB has signed letters of intent to partner with four other brokerages expected to close over the coming months. These partnerships will expand SIB’s footprint into additional provinces and further expand the company’s presence in Ontario. SIB is committed to growing organically and through partnership investments across Canada and is actively seeking partnership/acquisition opportunities.
Headquartered in Ancaster, Ontario, with 27 locations, StoneRidge is a leading independent insurance brokerage, MGA/MGU, and adjuster and has been providing a full range of insurance, risk advisory, life and benefits services to businesses, associations and individuals since 1945. For more information on SIB’s partnership and investment approach, please visit www.stoneridgeinsurance.ca/partnerplatform.