Southampton Financial Inc., a private equity firm focused on the Canadian property and casualty insurance distribution space, has agreed to acquire Onlia Insurance from Achmea and Fairfax Financial Holdings Ltd.
Headquartered in Toronto, Onlia is a digital insurance agency that has built a rapid presence in the Ontario marketplace with its direct-to-consumer brand. Its integrated digital platform enables the purchase and management of car and home insurance policies entirely online.
Onlia’s policies are underwritten by Verassure Insurance Company, which is part of the Achmea and Fairfax Financial group of insurance companies.
Achmea signed an agreement with Fairfax Financial, a Canadian holding company, in June 2018 to jointly provide a fully digital property and casualty insurance proposition under the new Onlia brand. In Canada, Onlia operated on the fully online…
