Cal LeGrow Insurance & Financial Group has made a strategic decision to divest its Personal Home and Automobile Insurance Business. The St. John’s-based company says the change will allow it to concentrate and build its business in the growth areas of commercial insurance and financial solutions in Atlantic Canada. They will continue to manage the personal insurance needs of existing and future business clients with the creation of a dedicated personal lines concierge team.
“Our executive team determined that Cal LeGrow could advance our leadership position as Atlantic Canada’s largest independent commercial insurance broker and find ways to evolve and add value to the client experience if we focused more energy and resources to these areas of business,” said Jeff LeGrow, Chairman and CEO. The buyer of the personal insurance line of business is Macdonald Chisholm Trask Insurance (mcti.ca), which is a well-established insurance brokerage operating in Atlantic Canada for over 70 years.
“There are no layoffs or job losses with this announcement,” LeGrow said. Also, while the sale is effective immediately, there is no immediate change to anyone’s work circumstances, to any office locations, or to anyone’s insurance policy. All existing personal insurance policies brokered by Cal LeGrow remain in force, simply shifting to the new brokerage firm. Affected customers will be notified of the sale, and will receive ongoing communication about the transfer of their business to MCT.
There will be a period of transition over several months, LeGrow said, “Both Cal LeGrow and MCT are committed to ensuring this goes smoothly. And we both believe that this is a very positive decision for our businesses, and for our clients.”
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