SPG Canada has completed the acquisition of AVRO Insurance Managers Ltd., a specialized aviation insurance provider, effective Jan. 1, 2026.
The transaction is part of SPG Canada’s strategy to expand its national delegated underwriting platform and diversify its specialty insurance offerings.
The acquisition integrates AVRO’s aviation-focused underwriting and claims operations into SPG Canada’s portfolio, providing brokers and clients with broader access to delegated authority solutions for Canadian aviation risks. Aviation insurance is a niche market that requires specialized technical underwriting, knowledge of regulatory frameworks, and expertise in managing complex claims. AVRO has developed a reputation for innovative coverage solutions tailored to aircraft owners, operators, and related businesses.
SPG Canada said the transaction follows its consolidation of five legacy brands under a unified platform, which was intended to streamline operations, enhance national reach, and improve service for brokers.
The addition of aviation insurance further diversifies SPG Canada’s portfolio, creating opportunities to offer integrated solutions across multiple specialty lines and to support brokers with access to technically sophisticated products that may be difficult to place in the open market.
The company said the acquisition strengthens its ability to respond to growing demand for specialized insurance products in Canada, particularly for sectors that require delegated underwriting authority. By leveraging AVRO’s expertise and SPG Canada’s operational scale, the combined entity expects to enhance efficiency, improve risk selection, and expand product innovation.
SPG Canada’s president said the acquisition aligns with the company’s ongoing commitment to developing niche insurance solutions and supporting brokers in accessing markets for complex or hard-to-place risks. AVRO’s president and chief executive noted that the merger reflects shared values and a common focus on specialized underwriting, making the integration a natural fit.
The companies did not disclose the financial terms of the transaction. AVRO will operate within SPG Canada’s specialty insurance framework, continuing to provide tailored aviation products while benefiting from the resources and scale of the larger platform.
Analysts noted that the transaction strengthens SPG Canada’s position in a concentrated market, where limited providers operate with the expertise required to underwrite Canadian aviation risks, and positions the company to compete more effectively with both domestic and international specialty insurers.
SPG Canada was named as the Best Insurance Companies to Work for in Canada. Read more on special reports here.
