ICMIF member Farm Mutual Re, a 100% Canadian mutual reinsurance company, has led a CAD 65 million growth equity funding round in Collectivfide.
The investment, raised in two tranches (CAD 45 million on 31 March 2025, and CAD 20 million on 1 September 2025), will accelerate Collectivfide’s strategy of acquiring and supporting leading independent insurance brokerages across Canada.
Farm Mutual Re’s leadership in this round underscores its commitment to strengthening the mutual insurance system in Canada and beyond. Founded more than 70 years ago, Farm Mutual Re is the first Canadian member-owned reinsurance company and a long-standing advocate for the resilience and sustainability of mutual and cooperative insurers. As an ICMIF member, Farm Mutual Re also represents the values of collaboration and community solidarity that are at the heart of the mutual model globally.
Part of the funds supported the acquisition of Miller Insurance Brokers (“Miller”), an Ontario-based independent insurance brokerage that offers a comprehensive suite of insurance solutions. The Miller acquisition, completed 31 March 2025, marks Collectivfide’s 14th acquisition since its inception in 2019.
Jean-Pierre Gagnon, President & CEO of Farm Mutual Re, said: “We’re proud to partner with Collectivfide. This additional investment reflects our confidence in their ability to build a strong network of high-performing community brokerages that will help protect and grow mutual volume.”
Tony Ngo, President & CEO of Collectivfide, added: “Securing this investment is a powerful validation of Collectivfide’s vision and business model. With Farm Mutual Re’s leadership, we are well-positioned to accelerate brokerage acquisitions, protect mutual volume, and reinforce the broker distribution channel, continuing our goal of building a stronger future for mutuals and their communities.”
Collectivfide is backed by mutual insurance companies across Canada, many of which have served their communities for more than a century. By offering centralised services such as HR, marketing, underwriting, and office support, Collectivfide allows its partner brokerages to remain independent and community-focused, while benefiting from the strength of being part of a larger mutual system.
Origin Merchant Securities Inc. served as exclusive financial adviser to Collectivfide, with Bennett Grant LLP acting as legal counsel.
