McDougall Insurance Brokers has announced it has acquired Annex Insurance Group through subsidiary company, Duliban Insurance Brokers.
In a release, the company says the move expands its commercial footprint across the Niagara and Hamilton regions.
The transaction is Duliban’s first since it joined McDougall in June 2025.
Annex, based in Stoney Creek, is an independent brokerage with a mixed personal and commercial portfolio.
You can read the full press release below:
McDougall Insurance Brokers, through its subsidiary Duliban Insurance Brokers, has acquired Annex Insurance Group.
The move expands the company’s commercial footprint across Ontario’s Niagara and Hamilton regions and adds to the steady consolidation of Canada’s broker market. The transaction is Duliban’s first since it joined McDougall in June 2025.
Annex, based in Stoney Creek, is an independent brokerage with a mixed personal and commercial portfolio. The firm places home and auto alongside a broad range of commercial classes, including manufacturers and wholesalers, contractors and trucking risks.
McDougall Vice President Lorne McDougall said combining Annex’s commercial expertise with Duliban and McDougall’s scale and efficiency would be positive for clients and staff on both sides, arguing that the group’s community-first, family model aligns well with the Niagara and Hamilton markets.
Annex managing director Joe DelGuzzo will remain actively involved with the organization, positioning the deal as a way to bring greater resources to bear for existing clients and employees while preserving local relationships.
Strategic fit within Definity’s broker platform
The deal is another data point in Definity Financial’s push to build a national broker platform through McDougall and its affiliates.
In 2022, Definity increased its stake in McDougall from 25% to 75%, and then subsequently to 78%, investing more than $250 million. It then supported McDougall’s merger with fellow Ontario broker McFarlan Rowlands and the acquisition of Alberta-based Drayden Insurance, creating a platform that now places about $1.2 billion in gross written premium.
Definity has signaled that it expects its broker platform to manage at least $1.5 billion of premium by the end of 2026, earlier than originally planned, on the back of continued M&A and organic growth.
In that context, adding Annex gives Duliban and McDougall a stronger presence in a corridor where small and mid-sized commercial clients remain heavily brokered and where competition from other consolidators and international brokers is increasing.
Local consolidation and market dynamics
The move also follows a broader pattern of regional roll-ups in Ontario, where McDougall has in recent years added brokers such as MB Kouri in Tamworth and Rayburn in Tweed to extend its eastern and central Ontario footprint. Other groups backed by carriers or private equity have pursued similar strategies, making scale, placement leverage and investment in technology key differentiators.
For carriers, the deal slightly concentrates distribution in the Niagara–Hamilton market into the hands of a larger platform with a Definity-backed balance sheet, but one that maintains local branding and management. It also raises the bar on access to markets and specialized commercial expertise in segments where Annex has traditionally been strong, such as construction-related trades and mid-market property.
The addition of Annex’s team and book should provide more depth in commercial lines, a denser local office network and more cross-sell opportunities into personal lines, while giving Annex clients access to a broader carrier panel and service infrastructure. The challenge – as in many brokerage integrations – will be to realize those benefits without diluting the local, relationship-driven service that has underpinned Annex’s reputation in Stoney Creek and the wider region.
