On March 26, 2024, Fairfax Financial Holdings Limited (Fairfax) and Achmea B.V. (Achmea) announced the sale of Onlia Insurance to Southampton Financial Inc. (Southampton), with Scotiabank acting as the Exclusive Financial Advisor to Fairfax and Achmea. The transaction closed on May 1, 2024.
Onlia, founded in 2018 as a joint venture between Achmea and Fairfax, is a rapidly growing direct-to-consumer digital insurance distribution company providing home and auto insurance in Ontario, Canada with 24,000 customers and annual premiums of ~$65 million.
Southampton is a private equity firm focused on the Canadian property and casualty insurance distribution space.
This transaction reflects Scotiabank’s leading presence with Canadian insurance clients.
