HUB International Acquires Global Ag Risk Solutions

Nov 11, 2024
By Jean-Paul McDonald
Assistant Editor, North American Content, Farms.com

Merger expands insurance offerings for Western Canadian farmers

Global Ag Risk Solutions (GARS), a leading provider of whole-farm insurance in Western Canada, has been acquired by HUB International, a top global insurance brokerage and financial services firm.

This partnership signifies a pivotal development in agricultural insurance for Canadian farmers, promising to enhance the range of available insurance solutions significantly.

GARS has established itself as an innovator in the agricultural insurance field, offering unique whole-farm coverage and parametric insurance solutions that cater specifically to the needs of Western Canadian farmers.

These products allow producers to protect their crop investments and secure their financial futures effectively.

Ryan Matthews, president of HUB Prairies, expressed enthusiasm about the acquisition, highlighting the benefits of integrating GARS’s expertise with HUB’s extensive resources. “This acquisition will elevate our regional offerings, providing enhanced support and certainty to our clients as they approach each farming season,” said Matthews.

The operational dynamics post-acquisition will see the GARS team, including CEO Dave Sullivan and CTO Damon Johnson, continuing their roles from their base in Moose Jaw. They will serve under the GARS brand, with Sullivan reporting to Greg Johnson, HUB Prairies' chief strategy officer.

This structure is designed to leverage local and regional insights effectively, ensuring tailored service delivery to the agricultural community.

Dave Sullivan remarked on the merger, noting the benefits of combining forces with HUB. “Joining HUB offers us a solid platform to expand our services and continue growing, backed by their robust market presence and comprehensive expertise,” he stated.

With the recent appointment of Marc Chouinard as national Canada practice leader for agribusiness at HUB, the company is well-positioned to integrate GARS into its broader strategy for supporting the agribusiness sector across Canada.

Chouinard’s leadership is expected to enhance the alignment of tailored insurance solutions with the specific needs of Western Canadian farmers.

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