SIB Corp. has acquired Coreservice Insurance Brokers Inc., a North York, Ontario-based brokerage, as part of its ongoing expansion in the Greater Toronto Area. The financial terms of the deal were not disclosed.
Coreservice, led by Kevin Choi and Halim Lee, is a full-service brokerage providing personal and commercial insurance solutions. The firm has developed a client base in the GTA by focusing on responsive service and building long-term relationships. Choi and Lee will remain in leadership roles during a transition period, aiming to ensure continuity for clients and staff.
Choi commented, “Our priority has always been to support our clients with honest advice, timely service, and insurance solutions that fit their needs. Partnering with SIB allows us to continue on our growth trajectory while maintaining the client-first values that built our business.”
Ted Puccini, President & CEO of SIB, said, “Coreservice brings a strong culture and a loyal client base that aligns with SIB’s values. This acquisition expands our presence in Ontario and reinforces our commitment to delivering local, relationship-driven service supported by the strength of our national platform. It also comes at an exciting time for our organization as two additional transactions are expected to close at the end of the year, providing strong momentum as we head into 2026.”
SIB, which now operates from over 150 offices across Canada, manages between $1.2 billion and $1.5 billion in gross written premium (GWP) and offers personal, commercial, and benefits insurance solutions. In 2025, SIB has completed four acquisitions and launched one joint venture office. The group’s strategy is to partner with entrepreneurial brokerages that share its approach to client service and community engagement.
Coreservice’s integration into SIB’s platform is expected to provide access to broader markets and resources for clients, but, as with any acquisition, there may be challenges related to harmonising technology systems, aligning business processes, and retaining staff and clients during the transition.
The acquisition comes amid ongoing consolidation in the Canadian insurance brokerage sector, particularly in Ontario, where competition among national and regional players remains strong. SIB’s continued expansion may increase competitive pressure on smaller independents and could influence the pace of further M&A activity in the region.
While SIB has signalled its intention to continue acquiring brokerages, the company has not specified particular target segments or regions for future deals. Integration of new acquisitions, maintaining service standards, and ensuring cultural alignment remain key considerations as SIB grows its national footprint.
