A partnership between TIPI Insurance Partners and IMI Brokerage Company has created the largest indigenous-owned insurance agency in the country. It provides property insurance, pension plans, and group benefit plans designed exclusively for indigenous people. TIPI has about doubled in size and expanded from Ontario to the West as a result of the deal, the company said in an announcement March 2.
"Our vision is simple. We are building a financial services powerhouse that is owned by and for Indigenous people, where the benefits of ownership can flow back to our communities," says CEO of TIPI Insurance Partners, Nathan Ballantyne. "We offer highly competitive pension, benefits and community asset insurance services, with the added benefit of the meaningful careers, profits and economic development we create for our people."
A range of financial services offered
IMI Brokerage, based in Duck Lake, Saskatchewan, was founded in 1993 and is indigenous-owned. It currently has four offices in Saskatchewan, Alberta and BC.
Created in 2011 through the union of four indigenous organisations, TIPI is based in Winnipeg and has a northern office in The Pas.
More capacity to grow and thrive
"This is great news for our customers and for First Nations across Canada," says founder and President of IMI, Joan Barmby-Halcro. "We are bringing together two Indigenous-owned companies, giving us more capacity to grow and thrive. We can now help communities protect their band offices and schools while also giving them excellent group benefits and pension plans. This is the path for First Nations to take control over their own futures."
TIPI and IMI plan to continue operating under their own brands for the foreseeable future. They have more than 25 employees who will all remain with the company, said Ballantyne, adding that the agency is looking to grow “by acquiring more businesses in the same space”.