Kootenay Insurance Services Ltd. (KIS Ltd.) announced Thursday that it has purchased McBain Insurance Agency in Summerland.
John Sullivan, CEO of Kootenay Insurance Services and Kelly Marshall, CEO of Summerland Credit Union made the announced in a prepared statement.
“This provides a great opportunity for Kootenay Insurance to expand beyond the Kootenay Region with two companies that hold similar values with an emphasis on our employees and to provide superior service and products to our clients," Sullivan said.
KIS Ltd. represents many of Canada’s largest and most stable insurance companies providing home, auto, commercial, recreation and travel insurance through its multi branch network with locations in Kimberley, Cranbrook, Invermere, Trail, Nelson and Crawford Bay, BC.
KIS Ltd. was founded on a strategic partnership leveraging the strengths of Kootenay Savings Credit Union, East Kootenay Community Credit Union, Nelson & District Credit Union, and now Summerland & District Credit Union.
McBain Insurance Agency has operated in Summerland since 1970 and is a wholly owned division of Summerland & District Credit Union providing home, auto, commercial, recreation and travel insurance. McBain Insurance is also an ICBC appointed agent therefore, in addition to auto insurance, offer enhanced ICBC services such as drivers licensing.
With a vision of being our communities’ choice for insurance, this merger strengthens those roots.
"We are absolutely delighted to be combining our insurance operations with KIS Ltd.," Marshall explained
"Through this new venture we will now have the strength and economies of scale to not only add value for our members and clients through access to a broader range of insurance products and suppliers, but this transaction will also provide opportunity for employee development and advancement."
"This is a culmination of a two year review and evaluation process to determine the best option for members, employees and the credit union," Marshall added.
Kootenay Insurance Services Ltd and McBain Insurance Agency will continue to operate under their individual established names and locations.