By Edward Carron
April 10 - (The Insurer) - A consortium of investors led by Ethos Capital, British Columbia Investment Management Corporation and White Mountains Insurance Group will acquire an ownership stake in BroadStreet Partners, the broker announced on Thursday.
Ontario Teachers’ Pension Plan will retain a significant co-control position, continuing its partnership with the new investor group, the statement said.
BroadStreet, a Columbus, Ohio-based middle-market broker, focuses on commercial and personal property and casualty, as well as employee benefits.
It is one of the largest brokers in the U.S., ranked within the top 15 by Moody's Ratings, and generated more than $1.7 billion in revenue in 2023.
The company collaborates with independent insurance agencies, known as core agency partners, offering resources and expertise to enhance growth and performance.
The partnership with Ethos Capital and its co-investors aims to support BroadStreet’s long-term objectives, including technology investment and digital transformation.
Ontario Teachers’ acquired its stake in BroadStreet in 2012.
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