Ontario Teachers to snap up insurance acquisition platform

Ontario Teachers to snap up insurance acquisition platform

Canada’s largest single-profession pension plan Ontario Teachers’ Pension Plan announced that it has acquired Kanetix, the country’s biggest digital customer acquisition platform and marketplace.

Toronto-based Kanetix provides quote comparison search tools for insurance and financial products. Ontario Teachers bought Kanetix from Monitor Clipper Partners, Torstar Corporation, Alan Ellis and other shareholders.

Effective immediately, Igal Mayer, founder of Shop Insurance Canada and former CEO of Aviva Canada, Aviva UK and Aviva Europe, has become CEO and a director of Kanetix, replacing Andrew Lo.

Ontario Teachers’ private capital group has a long track record of investing in the financial services and technology industries. Kanetix has been a leader in providing millions of Canadians’ online insurance quotes since its launch in 1999 and has built successful partnerships with Canada’s leading insurance companies.

This article has been edited. It first appeared on Private Capital Journal, a site managed by CPE Media Inc, the official data provider for PCMA. Read the rest of the article here.

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